Carnegie Lake Advisors LLC Has $2.30 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Carnegie Lake Advisors LLC lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,991 shares of the bank’s stock after selling 16,525 shares during the period. Bank of New York Mellon comprises about 0.9% of Carnegie Lake Advisors LLC’s portfolio, making the stock its 28th biggest position. Carnegie Lake Advisors LLC’s holdings in Bank of New York Mellon were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Essex Financial Services Inc. lifted its stake in shares of Bank of New York Mellon by 17.6% in the 4th quarter. Essex Financial Services Inc. now owns 16,922 shares of the bank’s stock valued at $1,300,000 after purchasing an additional 2,535 shares during the period. Ferguson Wellman Capital Management Inc. lifted its stake in Bank of New York Mellon by 4.5% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 24,656 shares of the bank’s stock valued at $1,894,000 after buying an additional 1,061 shares during the period. Savant Capital LLC lifted its stake in Bank of New York Mellon by 1.0% in the fourth quarter. Savant Capital LLC now owns 49,733 shares of the bank’s stock valued at $3,821,000 after buying an additional 470 shares during the period. Burns Matteson Capital Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $245,000. Finally, Angeles Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $202,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BK shares. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Truist Financial raised their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI upped their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Bank of America raised their price objective on 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Down 1.4 %

Shares of Bank of New York Mellon stock opened at $84.99 on Tuesday. The firm has a market cap of $61.79 billion, a PE ratio of 14.63, a P/E/G ratio of 0.98 and a beta of 1.08. The stock has a fifty day moving average price of $80.70 and a 200-day moving average price of $74.83. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $87.70.

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, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 EPS. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.