Johnson Investment Counsel Inc. Sells 337 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Johnson Investment Counsel Inc. lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 31,409 shares of the bank’s stock after selling 337 shares during the period. Johnson Investment Counsel Inc.’s holdings in Bank of New York Mellon were worth $2,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $39,000. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $46,000. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Friedenthal Financial bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $56,000. Finally, Asset Dedication LLC raised its position in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 3.8 %

Shares of Bank of New York Mellon stock opened at $81.04 on Wednesday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The firm has a market cap of $58.18 billion, a PE ratio of 13.95, a PEG ratio of 0.97 and a beta of 1.06. 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 company has a 50 day simple moving average of $84.08 and a two-hundred day simple moving average of $78.27.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Analysts Set New Price Targets

BK has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley raised 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. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

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.