Chevy Chase Trust Holdings LLC Reduces Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Chevy Chase Trust Holdings LLC decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,102 shares of the bank’s stock after selling 14,151 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Bank of New York Mellon worth $29,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC lifted its position in Bank of New York Mellon by 4.0% during the third quarter. SeaCrest Wealth Management LLC now owns 6,830 shares of the bank’s stock valued at $491,000 after buying an additional 260 shares during the period. Vontobel Holding Ltd. lifted its position in Bank of New York Mellon by 11.4% during the third quarter. Vontobel Holding Ltd. now owns 63,884 shares of the bank’s stock valued at $4,591,000 after buying an additional 6,544 shares during the period. Hengehold Capital Management LLC purchased a new position in Bank of New York Mellon during the third quarter valued at $211,000. Bleakley Financial Group LLC lifted its position in Bank of New York Mellon by 6.4% during the third quarter. Bleakley Financial Group LLC now owns 10,664 shares of the bank’s stock valued at $766,000 after buying an additional 646 shares during the period. Finally, Cardinal Capital Management lifted its position in Bank of New York Mellon by 0.8% during the third quarter. Cardinal Capital Management now owns 142,814 shares of the bank’s stock valued at $10,263,000 after buying an additional 1,183 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BK. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Bank of America raised their price target on 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 raised their price target on 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. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Barclays raised their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Trading Up 1.2 %

Bank of New York Mellon stock opened at $87.94 on Friday. The business has a 50-day simple moving average of $81.08 and a two-hundred day simple moving average of $75.26. The company has a market cap of $63.94 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.98 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 $88.25. 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 released its quarterly 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. Analysts predict that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid 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 2.14%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.