Vaughan David Investments LLC IL Sells 525 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Vaughan David Investments LLC IL decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,112 shares of the bank’s stock after selling 525 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Bank of New York Mellon were worth $777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BK. United Advisor Group LLC purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at about $595,000. Czech National Bank increased its position in shares of Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after acquiring an additional 7,316 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after acquiring an additional 14,916 shares during the period. Chase Investment Counsel Corp boosted its position in Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 1.5 %

BK stock opened at $86.70 on Wednesday. The stock has a 50-day simple moving average of $82.38 and a two-hundred day simple moving average of $76.80. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The firm has a market capitalization of $63.04 billion, a PE ratio of 14.92, a PEG ratio of 0.97 and a beta of 1.08. 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 quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.17%. Bank of New York Mellon’s payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BK shares. Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.