Louisbourg Investments Inc. Has $3.39 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Louisbourg Investments Inc. decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,113 shares of the bank’s stock after selling 150 shares during the quarter. Louisbourg Investments Inc.’s holdings in Bank of New York Mellon were worth $3,389,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BK. McClarren Financial Advisors Inc. increased its holdings in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the period. Grove Bank & Trust increased its stake in shares of 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 during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $46,000. Finally, Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $49,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.6 %

Shares of NYSE BK opened at $85.56 on Wednesday. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $87.70. The stock’s fifty day moving average is $80.87 and its 200 day moving average is $75.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $62.21 billion, a P/E ratio of 14.73, a PEG ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its earnings results 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 period in the previous year, the company earned $1.28 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

A number of research firms have commented on BK. Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Bank of America raised their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

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.