The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 75,216 shares of the bank’s stock after selling 2,060 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Bank of New York Mellon were worth $5,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BK. Graney & King LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $39,000. TCTC Holdings LLC lifted its stake in shares of Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after purchasing an additional 430 shares during the period. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $49,000. Finally, Friedenthal Financial purchased a new stake in Bank of New York Mellon during the fourth quarter worth $56,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $84.63 on Friday. The firm’s 50-day moving average is $85.35 and its two-hundred day moving average is $79.42. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $60.77 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm earned $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Truist Financial increased their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research 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. Barclays increased their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Company Profile

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.