The Bank of New York Mellon Co. (NYSE:BK) Position Decreased by Cypress Capital Group

Cypress Capital Group decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 49.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,625 shares of the bank’s stock after selling 4,580 shares during the period. Cypress Capital Group’s holdings in Bank of New York Mellon were worth $355,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $39,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $49,000. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter valued at about $46,000. Friedenthal Financial bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $56,000. Finally, Asset Dedication LLC boosted its position in shares of Bank of New York Mellon by 342.1% during 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 in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.2 %

NYSE:BK opened at $86.61 on Thursday. The stock’s 50 day moving average price is $83.56 and its 200 day moving average price is $77.67. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34. The company has a market capitalization of $62.04 billion, a P/E ratio of 14.91, 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 quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.17%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

A number of analysts have commented on BK shares. Bank of America upped their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI upped 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 note on Thursday, January 16th. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Citigroup upped 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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. 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 presently has an average rating of “Moderate Buy” and an average price target of $88.71.

About Bank of New York Mellon

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.