Alliance Wealth Advisors LLC Sells 640 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Alliance Wealth Advisors LLC reduced its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,350 shares of the bank’s stock after selling 640 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BK. Empowered Funds LLC increased its holdings in shares of Bank of New York Mellon by 743.6% during the fourth quarter. Empowered Funds LLC now owns 116,085 shares of the bank’s stock worth $8,919,000 after purchasing an additional 102,325 shares during the period. Apollon Wealth Management LLC increased its stake in Bank of New York Mellon by 16.2% during the 4th quarter. Apollon Wealth Management LLC now owns 21,927 shares of the bank’s stock worth $1,685,000 after acquiring an additional 3,059 shares during the period. Mezzasalma Advisors LLC increased its stake in Bank of New York Mellon by 24.1% during the 4th quarter. Mezzasalma Advisors LLC now owns 5,561 shares of the bank’s stock worth $427,000 after acquiring an additional 1,081 shares during the period. Realta Investment Advisors acquired a new position in Bank of New York Mellon in the 4th quarter valued at $474,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Bank of New York Mellon by 9.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,792 shares of the bank’s stock valued at $6,361,000 after acquiring an additional 7,029 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK opened at $86.15 on Friday. 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 stock has a market cap of $62.64 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.98 and a beta of 1.08. The business’s 50 day moving average price is $80.70 and its 200-day moving average price is $74.67. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $87.70.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS 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 firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current fiscal 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 paid a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.18%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BK shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Barclays lifted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Evercore ISI boosted their price objective on shares of 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 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 target price of $88.00.

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.