Isthmus Partners LLC Sells 5,021 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Isthmus Partners LLC decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 230,821 shares of the bank’s stock after selling 5,021 shares during the quarter. Bank of New York Mellon makes up approximately 2.2% of Isthmus Partners LLC’s holdings, making the stock its 4th largest position. Isthmus Partners LLC’s holdings in Bank of New York Mellon were worth $17,734,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BK. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter worth approximately $39,000. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth $46,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at $49,000. Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $56,000. Finally, Asset Dedication LLC boosted its holdings in Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $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.

Bank of New York Mellon Stock Up 1.5 %

BK stock opened at $85.98 on Monday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. 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 company has a market cap of $61.73 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The business’s 50-day simple moving average is $83.85 and its 200 day simple moving average is $78.03.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. On average, research analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays raised their target price 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 boosted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. UBS Group lifted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.71.

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.