Financial Engines Advisors L.L.C. Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Financial Engines Advisors L.L.C. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 8.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 179,855 shares of the bank’s stock after selling 16,717 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Bank of New York Mellon were worth $13,818,000 as of its most recent SEC filing.

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

Bank of New York Mellon Trading Up 0.6 %

NYSE BK opened at $85.21 on Wednesday. The company has a fifty day moving average of $85.24 and a 200 day moving average of $79.35. The company has a market capitalization of $61.18 billion, a PE ratio of 14.67, a P/E/G ratio of 0.97 and a beta of 1.06. 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 Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.21%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BK. Barclays increased their price objective 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. UBS Group raised their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Bank of America lifted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Evercore ISI upped 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 note on Thursday, January 16th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $89.71.

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.