Loudon Investment Management LLC Lowers Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Loudon Investment Management LLC cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,962 shares of the bank’s stock after selling 150 shares during the period. Loudon Investment Management LLC’s holdings in Bank of New York Mellon were worth $765,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BK. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $39,000. TCTC Holdings LLC grew its position in Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares during the last quarter. Modus Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at $49,000. Friedenthal Financial purchased a new position in Bank of New York Mellon in the 4th quarter valued at $56,000. Finally, Asset Dedication LLC grew its position in Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after buying an additional 585 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America raised their target price 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. Finally, Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Bank of New York Mellon Trading Up 0.0 %

NYSE:BK opened at $83.91 on Friday. The company has a market capitalization of $60.24 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The stock has a fifty day simple moving average of $84.72 and a 200-day simple moving average of $78.83.

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, topping the consensus estimate 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 revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 EPS. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 dividend on an annualized basis and a yield of 2.24%. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.