The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 35.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 582,291 shares of the bank’s stock after selling 326,529 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Bank of New York Mellon worth $45,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BK. Avidian Wealth Enterprises LLC increased its holdings in shares of Bank of New York Mellon by 3.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 7,271 shares of the bank’s stock valued at $559,000 after purchasing an additional 247 shares in the last quarter. Great Lakes Retirement Inc. purchased a new position in Bank of New York Mellon in the fourth quarter valued at $588,000. Gladstone Institutional Advisory LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth about $1,280,000. TFB Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $212,000. Finally, Certuity LLC grew its position in shares of Bank of New York Mellon by 9.1% during the 4th quarter. Certuity LLC now owns 10,736 shares of the bank’s stock valued at $825,000 after acquiring an additional 897 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.2 %

BK opened at $87.94 on Friday. 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’s 50 day simple moving average is $81.08 and its two-hundred day simple moving average is $75.26. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $88.25.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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 the consensus estimate of $4.66 billion. During the same quarter last year, the business posted $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts expect that The Bank of New York Mellon Co. will post 6.89 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BK. Evercore ISI increased their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their target price on 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. Bank of America boosted their price target 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. UBS Group increased their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently 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.