Louisbourg Investments Inc. Sells 150 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Louisbourg Investments Inc. lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,113 shares of the bank’s stock after selling 150 shares during the quarter. Louisbourg Investments Inc.’s holdings in Bank of New York Mellon were worth $3,389,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BK. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $340,000. Grove Bank & Trust boosted its stake in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the last quarter. Swedbank AB grew its holdings in Bank of New York Mellon by 4.1% during the 3rd quarter. Swedbank AB now owns 725,864 shares of the bank’s stock worth $52,161,000 after acquiring an additional 28,384 shares during the period. SeaCrest Wealth Management LLC raised its position in shares of Bank of New York Mellon by 4.0% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,830 shares of the bank’s stock valued at $491,000 after acquiring an additional 260 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. lifted its stake in shares of Bank of New York Mellon by 758.6% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 30,413 shares of the bank’s stock valued at $2,185,000 after purchasing an additional 26,871 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.6 %

BK stock opened at $85.56 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 stock has a market capitalization of $62.21 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.98 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 $87.70. The business has a 50-day moving average of $80.87 and a 200-day moving average of $75.11.

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 for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm 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%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 EPS. On average, sell-side 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on 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. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Truist Financial increased their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Bank of America increased their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned 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 a consensus 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.