The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Hamel Associates Inc.

Hamel Associates Inc. decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,990 shares of the bank’s stock after selling 510 shares during the quarter. Bank of New York Mellon accounts for about 2.4% of Hamel Associates Inc.’s investment portfolio, making the stock its 16th largest position. Hamel Associates Inc.’s holdings in Bank of New York Mellon were worth $7,529,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE grew its position in Bank of New York Mellon by 7.1% during the 4th quarter. US Bancorp DE now owns 216,850 shares of the bank’s stock worth $16,661,000 after purchasing an additional 14,305 shares in the last quarter. Fisher Asset Management LLC grew its position in Bank of New York Mellon by 21.9% during the 4th quarter. Fisher Asset Management LLC now owns 5,707 shares of the bank’s stock worth $438,000 after purchasing an additional 1,025 shares in the last quarter. SVB Wealth LLC purchased a new position in Bank of New York Mellon during the 4th quarter worth approximately $3,469,000. Flputnam Investment Management Co. grew its position in Bank of New York Mellon by 4.0% during the 4th quarter. Flputnam Investment Management Co. now owns 9,979 shares of the bank’s stock worth $767,000 after purchasing an additional 383 shares in the last quarter. Finally, Private Trust Co. NA grew its position in Bank of New York Mellon by 14.0% during the 4th quarter. Private Trust Co. NA now owns 7,071 shares of the bank’s stock worth $543,000 after purchasing an additional 866 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Up 2.3 %

BK stock opened at $88.86 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The company has a fifty day simple moving average of $83.02 and a 200 day simple moving average of $77.11. The firm has a market cap of $64.60 billion, a PE ratio of 15.29, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 EPS. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Bank of New York Mellon Company 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.