Inlet Private Wealth LLC Sells 7,100 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Inlet Private Wealth LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 19.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,450 shares of the bank’s stock after selling 7,100 shares during the quarter. Inlet Private Wealth LLC’s holdings in Bank of New York Mellon were worth $2,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Western Financial Corp CA bought a new stake in Bank of New York Mellon in the fourth quarter worth $342,000. Waldron Private Wealth LLC grew its holdings in shares of Bank of New York Mellon by 100.6% in the fourth quarter. Waldron Private Wealth LLC now owns 12,940 shares of the bank’s stock worth $994,000 after purchasing an additional 6,490 shares during the last quarter. Austin Private Wealth LLC increased its stake in shares of Bank of New York Mellon by 7.0% in the fourth quarter. Austin Private Wealth LLC now owns 3,656 shares of the bank’s stock worth $281,000 after buying an additional 239 shares during the period. Caprock Group LLC raised its holdings in Bank of New York Mellon by 1.3% during the 4th quarter. Caprock Group LLC now owns 41,780 shares of the bank’s stock valued at $3,210,000 after buying an additional 549 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $433,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.6 %

NYSE:BK opened at $86.01 on Friday. 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’s 50-day moving average price is $80.29 and its 200-day moving average price is $73.91. The company has a market capitalization of $62.53 billion, a PE ratio of 14.80, a P/E/G ratio of 0.98 and a beta of 1.08. 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 (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm 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 business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $1.28 earnings per share. On average, equities analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BK shares. Keefe, Bruyette & Woods boosted 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. Evercore ISI boosted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.00.

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.