Baxter Bros Inc. Has $2.77 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Baxter Bros Inc. reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,991 shares of the bank’s stock after selling 226 shares during the quarter. Baxter Bros Inc.’s holdings in Bank of New York Mellon were worth $2,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. PKS Advisory Services LLC bought a new position in Bank of New York Mellon during the 4th quarter valued at about $2,015,000. First American Trust FSB raised its stake in shares of Bank of New York Mellon by 3.4% in the fourth quarter. First American Trust FSB now owns 54,049 shares of the bank’s stock valued at $4,153,000 after acquiring an additional 1,783 shares during the last quarter. TIAA Trust National Association boosted its holdings in shares of Bank of New York Mellon by 5.4% in the 4th quarter. TIAA Trust National Association now owns 21,457 shares of the bank’s stock worth $1,649,000 after acquiring an additional 1,099 shares in the last quarter. Modern Wealth Management LLC grew its position in Bank of New York Mellon by 12.4% during the 4th quarter. Modern Wealth Management LLC now owns 6,557 shares of the bank’s stock worth $558,000 after acquiring an additional 724 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Bank of New York Mellon by 642.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 197,338 shares of the bank’s stock valued at $15,161,000 after purchasing an additional 170,772 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 1.4 %

Bank of New York Mellon stock opened at $84.76 on Tuesday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week 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. The firm has a market capitalization of $60.86 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.97 and a beta of 1.06. The company’s 50 day simple moving average is $85.06 and its 200 day simple moving average is $79.22.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates 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 firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 EPS. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BK. Bank of America increased their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised 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 research report on Tuesday, December 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Finally, Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.71.

Bank of New York Mellon Company 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.