The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,940 shares of the bank’s stock after selling 196 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Bank of New York Mellon were worth $149,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $39,000. Fortitude Family Office LLC lifted its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the period. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the third quarter worth $46,000. Finally, Friedenthal Financial purchased a new position in Bank of New York Mellon in 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 Stock Up 0.1 %

Shares of NYSE:BK opened at $87.29 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 company has a market capitalization of $63.46 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.00 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $89.44. The stock’s fifty day simple moving average is $82.04 and its 200-day simple moving average is $76.26.

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, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.93 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 given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.15%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Ratings Changes

Several brokerages have commented on BK. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays boosted 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. Bank of America increased their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group raised their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.