The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 496,515 shares of the bank’s stock after selling 2,754 shares during the quarter. Bank of New York Mellon comprises about 1.1% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 17th biggest holding. First Horizon Advisors Inc. owned 0.07% of Bank of New York Mellon worth $38,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BK. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $39,000. Fortitude Family Office LLC grew its position in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon in the third quarter worth approximately $46,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon in the fourth quarter worth approximately $49,000. Finally, Concord Wealth Partners grew its position in Bank of New York Mellon by 150.5% in the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after buying an additional 453 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group lifted their price target 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. Morgan Stanley lifted their price target on shares of 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. Wells Fargo & Company raised their price objective on shares of 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. Finally, Barclays raised 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 research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Trading Up 0.1 %

Shares of NYSE:BK opened at $87.29 on Friday. The firm has a fifty day moving average of $82.04 and a two-hundred day moving average of $76.36. The firm has a market capitalization of $63.46 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its 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. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.94 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Bank of New York Mellon 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.