City Holding Co. Lowers Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

City Holding Co. lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,361 shares of the bank’s stock after selling 420 shares during the quarter. City Holding Co.’s holdings in Bank of New York Mellon were worth $181,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BK. Blair William & Co. IL lifted its stake in shares of Bank of New York Mellon by 10.7% in the 2nd quarter. Blair William & Co. IL now owns 23,691 shares of the bank’s stock worth $1,419,000 after acquiring an additional 2,298 shares during the period. AE Wealth Management LLC boosted its holdings in Bank of New York Mellon by 10.1% in the 2nd quarter. AE Wealth Management LLC now owns 16,792 shares of the bank’s stock valued at $1,006,000 after purchasing an additional 1,535 shares in the last quarter. Ensign Peak Advisors Inc increased its position in Bank of New York Mellon by 36.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 145,451 shares of the bank’s stock worth $8,711,000 after purchasing an additional 38,740 shares during the period. ProShare Advisors LLC raised its stake in shares of Bank of New York Mellon by 2.2% during the 2nd quarter. ProShare Advisors LLC now owns 174,067 shares of the bank’s stock worth $10,425,000 after buying an additional 3,717 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $765,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Truist Financial boosted their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.14.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $83.31 on Tuesday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $83.67. The firm has a 50 day simple moving average of $78.87 and a 200-day simple moving average of $72.41. The firm has a market cap of $60.57 billion, a PE ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued 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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.28 EPS. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.87 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 40.87%.

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.