The Bank of New York Mellon Co. (NYSE:BK) Position Cut by Boston Research & Management Inc.

Boston Research & Management Inc. lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 91,610 shares of the bank’s stock after selling 1,666 shares during the period. Bank of New York Mellon accounts for 1.7% of Boston Research & Management Inc.’s portfolio, making the stock its 19th biggest holding. Boston Research & Management Inc.’s holdings in Bank of New York Mellon were worth $7,038,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Graney & King LLC bought a new position in Bank of New York Mellon in the 4th quarter worth about $35,000. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at $39,000. TCTC Holdings LLC boosted its position in Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after acquiring an additional 430 shares during the period. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at $56,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.1 %

Bank of New York Mellon stock opened at $82.67 on Monday. The company has a 50 day moving average price of $85.34 and a 200 day moving average price of $79.69. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34. The firm has a market capitalization of $59.35 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. Research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley boosted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Evercore ISI upped their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.71.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.