Bright Futures Wealth Management LLC. Sells 925 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Bright Futures Wealth Management LLC. cut its position in The Bank of New York Mellon Co. (NYSE:BK) by 20.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,500 shares of the bank’s stock after selling 925 shares during the period. Bright Futures Wealth Management LLC.’s holdings in Bank of New York Mellon were worth $269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its position in Bank of New York Mellon by 4.0% during the third quarter. SeaCrest Wealth Management LLC now owns 6,830 shares of the bank’s stock worth $491,000 after purchasing an additional 260 shares during the period. Vontobel Holding Ltd. boosted its position in Bank of New York Mellon by 11.4% during the third quarter. Vontobel Holding Ltd. now owns 63,884 shares of the bank’s stock worth $4,591,000 after purchasing an additional 6,544 shares during the period. Hengehold Capital Management LLC bought a new position in Bank of New York Mellon during the third quarter worth $211,000. Mezzasalma Advisors LLC boosted its position in Bank of New York Mellon by 4.2% during the third quarter. Mezzasalma Advisors LLC now owns 4,480 shares of the bank’s stock worth $322,000 after purchasing an additional 181 shares during the period. Finally, One Wealth Advisors LLC boosted its position in Bank of New York Mellon by 20.6% during the third quarter. One Wealth Advisors LLC now owns 5,202 shares of the bank’s stock worth $374,000 after purchasing an additional 889 shares during the period. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BK. Deutsche Bank Aktiengesellschaft lifted 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 research report on Thursday, January 16th. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Barclays lifted their target price 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. Evercore ISI lifted their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their target price on 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. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Price Performance

Shares of BK opened at $86.95 on Friday. 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 Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $87.70. The business’s 50 day moving average price is $80.97 and its two-hundred day moving average price is $75.18. The firm has a market cap of $63.22 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08.

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, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.16%. Bank of New York Mellon’s payout ratio is 32.36%.

Bank of New York Mellon 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.