Columbia Asset Management Sells 1,445 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Columbia Asset Management decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,952 shares of the bank’s stock after selling 1,445 shares during the period. Columbia Asset Management’s holdings in Bank of New York Mellon were worth $1,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BK. D.A. Davidson & CO. raised its holdings in shares of Bank of New York Mellon by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank’s stock valued at $525,000 after purchasing an additional 231 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Bank of New York Mellon by 0.9% in the third quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after buying an additional 250 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Bank of New York Mellon by 583.0% during the third quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock worth $741,000 after buying an additional 8,797 shares during the period. Ascent Group LLC lifted its holdings in Bank of New York Mellon by 81.3% during the third quarter. Ascent Group LLC now owns 12,666 shares of the bank’s stock worth $910,000 after buying an additional 5,680 shares during the period. Finally, Cinctive Capital Management LP purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $1,786,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.2 %

Shares of Bank of New York Mellon stock opened at $83.74 on Wednesday. The stock has a market cap of $60.12 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The firm has a fifty day moving average price of $85.33 and a 200 day moving average price of $79.90. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. The company’s revenue was up 11.2% on a year-over-year basis. Equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.24%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BK shares. Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday. 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. Keefe, Bruyette & Woods boosted 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 research note on Tuesday, December 3rd. Bank of America raised their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Truist Financial upped their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

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.