Lowe Brockenbrough & Co. Inc. Sells 851 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Lowe Brockenbrough & Co. Inc. trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,406 shares of the bank’s stock after selling 851 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Bank of New York Mellon were worth $1,414,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. HUB Investment Partners LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $238,000. Blueshift Asset Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $769,000. iA Global Asset Management Inc. lifted its position in shares of Bank of New York Mellon by 117.1% during the fourth quarter. iA Global Asset Management Inc. now owns 23,416 shares of the bank’s stock valued at $1,799,000 after purchasing an additional 12,629 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $223,000. Finally, Xponance Inc. lifted its position in shares of Bank of New York Mellon by 3.9% during the fourth quarter. Xponance Inc. now owns 124,250 shares of the bank’s stock valued at $9,546,000 after purchasing an additional 4,618 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised 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 report on Tuesday, December 3rd. Truist Financial raised their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Bank of New York Mellon Price Performance

BK opened at $83.46 on Friday. The company has a market capitalization of $59.92 billion, a price-to-earnings ratio of 14.36, a PEG 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 firm has a 50-day moving average price of $84.88 and a 200-day moving average price of $78.94. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34.

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. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. Equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors 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 annualized dividend and a yield of 2.25%. 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.