City Holding Co. Cuts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

City Holding Co. lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,361 shares of the bank’s stock after selling 420 shares during the quarter. City Holding Co.’s holdings in Bank of New York Mellon were worth $181,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. McClarren Financial Advisors Inc. lifted its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the period. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $49,000. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the third quarter valued at $46,000. Finally, Grove Bank & Trust grew its stake in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

BK opened at $83.31 on Tuesday. The stock has a market capitalization of $60.57 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $83.67. The business’s 50-day simple moving average is $78.87 and its 200-day simple moving average is $72.41.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. Analysts anticipate that The Bank of New York Mellon Co. will post 5.87 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 40.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BK shares. The Goldman Sachs Group increased their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Evercore ISI increased their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

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.