The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Lessened by Garland Capital Management Inc.

Garland Capital Management Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,140 shares of the bank’s stock after selling 1,930 shares during the period. Bank of New York Mellon makes up about 4.9% of Garland Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Garland Capital Management Inc.’s holdings in Bank of New York Mellon were worth $6,003,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Sciencast Management LP lifted its holdings in shares of Bank of New York Mellon by 1.2% in the 4th quarter. Sciencast Management LP now owns 39,541 shares of the bank’s stock valued at $3,038,000 after acquiring an additional 468 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $65,000. 1620 Investment Advisors Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $93,000. Lee Danner & Bass Inc. bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $90,000. Finally, HUB Investment Partners LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $238,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $83.46 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 stock’s fifty day moving average price is $84.88 and its 200-day moving average price is $78.94. The firm has a market cap of $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted 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 company had revenue of $4.85 billion during the quarter, compared to analyst estimates 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 was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Bank of America raised their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

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.