The Bank of New York Mellon Co. (NYSE:BK) Holdings Lowered by Sabal Trust CO

Sabal Trust CO cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 43.4% in the 4th quarter, HoldingsChannel reports. The fund owned 382,400 shares of the bank’s stock after selling 293,599 shares during the period. Bank of New York Mellon accounts for approximately 1.7% of Sabal Trust CO’s holdings, making the stock its 17th largest holding. Sabal Trust CO’s holdings in Bank of New York Mellon were worth $29,380,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. National Pension Service lifted its holdings in shares of Bank of New York Mellon by 17.6% in the fourth quarter. National Pension Service now owns 2,177,055 shares of the bank’s stock valued at $167,263,000 after purchasing an additional 325,786 shares in the last quarter. Lake Street Advisors Group LLC increased its position in Bank of New York Mellon by 7.3% during the fourth quarter. Lake Street Advisors Group LLC now owns 5,610 shares of the bank’s stock worth $431,000 after buying an additional 382 shares during the last quarter. Longbow Finance SA bought a new position in Bank of New York Mellon during the fourth quarter valued at about $4,471,000. Los Angeles Capital Management LLC lifted its position in shares of Bank of New York Mellon by 1,375.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 252,292 shares of the bank’s stock worth $19,384,000 after buying an additional 235,190 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Bank of New York Mellon by 42.4% during the 4th quarter. IFP Advisors Inc now owns 5,196 shares of the bank’s stock worth $399,000 after acquiring an additional 1,547 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK stock opened at $86.70 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $89.44. The stock has a market capitalization of $63.04 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a 50 day moving average price of $82.38 and a 200 day moving average price of $76.80.

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 firm had revenue of $4.85 billion during 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%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

BK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Truist Financial raised their target price on shares of 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. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI raised their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price 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.