The Bank of New York Mellon Co. (NYSE:BK) Position Decreased by Signet Financial Management LLC

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its holdings 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 buying an additional 346 shares in the last quarter. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter worth $32,000. Fortitude Family Office LLC raised its position in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the period. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $49,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $46,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, January 2nd. UBS Group boosted their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Saturday, December 14th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Bank of New York Mellon Stock Up 0.8 %

BK opened at $76.04 on Tuesday. The company has a market capitalization of $55.29 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $82.72. The business has a 50-day moving average of $78.58 and a 200-day moving average of $71.82.

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

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.