The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Davis Selected Advisers

Davis Selected Advisers lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 60.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,136,974 shares of the bank’s stock after selling 3,230,001 shares during the period. Bank of New York Mellon comprises about 1.0% of Davis Selected Advisers’ portfolio, making the stock its 24th largest holding. Davis Selected Advisers’ holdings in Bank of New York Mellon were worth $164,184,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $39,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the 3rd quarter worth about $46,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth about $49,000. Friedenthal Financial acquired a new position in Bank of New York Mellon during the 4th quarter worth about $56,000. Finally, Asset Dedication LLC grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted 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 report on Thursday, January 16th. Morgan Stanley increased their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial increased their price objective on Bank of New York Mellon from $91.00 to $93.00 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Bank of New York Mellon Trading Up 1.5 %

NYSE:BK opened at $85.98 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a 50-day simple moving average of $83.85 and a 200-day simple moving average of $77.85. The stock has a market cap of $61.59 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping 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 company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company earned $1.28 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts anticipate 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.