Regatta Capital Group LLC Has $262,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Regatta Capital Group LLC lessened its position in The Bank of New York Mellon Co. (NYSE:BK) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,415 shares of the bank’s stock after selling 123 shares during the period. Regatta Capital Group LLC’s holdings in Bank of New York Mellon were worth $262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC raised its stake in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the period. Grove Bank & Trust lifted its holdings in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon during the third quarter worth $46,000. Finally, Modus Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $49,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BK has been the topic of several research reports. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Up 1.3 %

NYSE BK opened at $85.82 on Friday. The business has a fifty day moving average price of $79.53 and a two-hundred day moving average price of $73.09. The stock has a market capitalization of $62.39 billion, a PE ratio of 14.77, a PEG ratio of 0.96 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $86.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. Equities analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share 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. Shareholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. 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 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.