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

Lowe Brockenbrough & Co. Inc. lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,406 shares of the bank’s stock after selling 851 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Bank of New York Mellon were worth $1,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $39,000. TCTC Holdings LLC lifted its stake 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 purchasing an additional 430 shares during the last quarter. Modus Advisors LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $49,000. Friedenthal Financial bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $56,000. Finally, Asset Dedication LLC lifted its stake 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 purchasing an additional 585 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the subject of several research reports. Citigroup increased their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. 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 report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price target 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. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Finally, Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE BK opened at $83.46 on Friday. The firm has a market cap of $59.92 billion, a PE ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The company’s fifty day simple moving average is $84.88 and its 200 day simple moving average is $78.94. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its 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 for the quarter, compared to analyst estimates 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 was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 earnings per share. As a group, sell-side analysts forecast 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 Announces Dividend

The business also recently announced 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. This represents a $1.88 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 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.