The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,491 shares of the bank’s stock after selling 1,823 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Bank of New York Mellon were worth $1,958,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the last quarter. Grove Bank & Trust grew its holdings in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $46,000. Finally, Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI upped their price target 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.14.

Bank of New York Mellon Trading Up 1.3 %

NYSE BK opened at $83.31 on Friday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $83.67. The firm has a market cap of $60.57 billion, a PE ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08. The firm’s fifty day moving average is $78.74 and its two-hundred day moving average is $72.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts expect that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Bank of New York Mellon Profile

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.