D L Carlson Investment Group Inc. Reduces Holdings in The Bank of New York Mellon Co. (NYSE:BK)

D L Carlson Investment Group Inc. lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 40,397 shares of the bank’s stock after selling 843 shares during the period. D L Carlson Investment Group Inc.’s holdings in Bank of New York Mellon were worth $3,104,000 at the end of the most recent quarter.

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

Bank of New York Mellon Stock Down 2.1 %

BK stock opened at $82.67 on Monday. The company’s 50 day moving average is $85.34 and its two-hundred day moving average is $79.69. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. 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 has a market cap of $59.35 billion, a P/E ratio of 14.23, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 earnings per share. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft raised 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 research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $89.71.

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.