The Bank of New York Mellon Co. (NYSE:BK) Stock Position Lowered by Graphene Investments SAS

Graphene Investments SAS cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,600 shares of the bank’s stock after selling 8,700 shares during the period. Bank of New York Mellon accounts for 2.3% of Graphene Investments SAS’s investment portfolio, making the stock its 5th biggest position. Graphene Investments SAS’s holdings in Bank of New York Mellon were worth $3,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. McClarren Financial Advisors Inc. grew its stake in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in 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 purchasing an additional 346 shares during the period. Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $49,000. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the third quarter worth $46,000. Finally, Grove Bank & Trust raised its position in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective 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 target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $86.35 on Friday. The stock has a market capitalization of $62.78 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $87.70. 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 business’s 50 day simple moving average is $80.52 and its two-hundred day simple moving average is $74.43.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 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 firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.