The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Lessened by Cannell & Spears LLC

Cannell & Spears LLC cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 343,334 shares of the bank’s stock after selling 10,230 shares during the period. Cannell & Spears LLC’s holdings in Bank of New York Mellon were worth $26,378,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BK. D.A. Davidson & CO. boosted its position in Bank of New York Mellon by 3.3% during 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 during the period. Townsquare Capital LLC grew its position in shares of Bank of New York Mellon by 24.6% during the third quarter. Townsquare Capital LLC now owns 22,001 shares of the bank’s stock worth $1,581,000 after acquiring an additional 4,342 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Bank of New York Mellon by 3.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 8,971 shares of the bank’s stock worth $645,000 after acquiring an additional 332 shares during the period. Financial Counselors Inc. bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $293,000. Finally, Rockefeller Capital Management L.P. boosted its stake in Bank of New York Mellon by 0.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock valued at $2,118,000 after purchasing an additional 250 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.1 %

NYSE:BK opened at $82.67 on Monday. The stock has a fifty day simple moving average of $85.34 and a 200 day simple moving average of $79.69. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $59.35 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34.

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, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for 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 firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BK. Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley increased their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note 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 stock has a consensus rating of “Moderate Buy” and an average price target of $89.71.

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.