Signet Financial Management LLC Sells 580 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Signet Financial Management LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 6.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,888 shares of the bank’s stock after selling 580 shares during the period. Signet Financial Management LLC’s holdings in Bank of New York Mellon were worth $606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. McClarren Financial Advisors Inc. raised its position in shares of Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Clearstead Trust LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $32,000. Fortitude Family Office LLC raised its holdings in Bank of New York Mellon by 130.6% in the 3rd 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 period. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $49,000. Finally, Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon during the third quarter valued at about $46,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $76.04 on Tuesday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $82.72. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $55.29 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The firm’s 50-day simple moving average is $78.58 and its 200-day simple moving average is $71.82.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. As a group, research analysts expect that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Analysts Set New Price Targets

BK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Morgan Stanley reduced their price objective on Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Citigroup boosted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Saturday, December 14th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.64.

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.