Galvin Gaustad & Stein LLC Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Galvin Gaustad & Stein LLC lessened its position in The Bank of New York Mellon Co. (NYSE:BK) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,316 shares of the bank’s stock after selling 27,992 shares during the quarter. Bank of New York Mellon comprises 1.5% of Galvin Gaustad & Stein LLC’s holdings, making the stock its 28th largest position. Galvin Gaustad & Stein LLC’s holdings in Bank of New York Mellon were worth $16,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BK. Studio Investment Management LLC lifted its position in Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares in the last quarter. Stanley Laman Group Ltd. raised its position in Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after purchasing an additional 135 shares during the period. Grove Bank & Trust raised its position in Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after purchasing an additional 135 shares during the period. Avidian Wealth Enterprises LLC raised its position in Bank of New York Mellon by 2.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after purchasing an additional 137 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.1 %

Bank of New York Mellon stock opened at $84.43 on Thursday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $85.81. The stock has a 50 day moving average of $79.23 and a two-hundred day moving average of $72.82. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $61.39 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted 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 return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.23%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of research analyst reports. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. UBS Group lifted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Citigroup lifted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.