The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,660 shares of the bank’s stock after selling 191 shares during the period. Moors & Cabot Inc.’s holdings in Bank of New York Mellon were worth $2,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth $39,000. Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth $49,000. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon during the third quarter worth $46,000. Friedenthal Financial purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth $56,000. Finally, Asset Dedication LLC raised its holdings in shares of Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after purchasing an additional 585 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of several recent research reports. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Citigroup raised their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. 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. Finally, StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Stock Down 0.4 %

BK stock opened at $80.70 on Thursday. The stock has a market capitalization of $57.94 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.97 and a beta of 1.06. The firm has a 50-day simple moving average of $84.16 and a 200-day simple moving average of $78.28. 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 Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week 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 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. Equities analysts forecast 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.33%. Bank of New York Mellon’s payout ratio is presently 32.36%.

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.