The Bank of New York Mellon Co. (NYSE:BK) Position Trimmed by Twin Capital Management Inc.

Twin Capital Management Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,031 shares of the bank’s stock after selling 372 shares during the period. Twin Capital Management Inc.’s holdings in Bank of New York Mellon were worth $2,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BK. Invesco Ltd. increased its stake in Bank of New York Mellon by 2.4% in the 4th quarter. Invesco Ltd. now owns 7,596,210 shares of the bank’s stock worth $583,617,000 after purchasing an additional 175,704 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Bank of New York Mellon by 15.0% during the fourth quarter. Cerity Partners LLC now owns 60,935 shares of the bank’s stock valued at $4,578,000 after acquiring an additional 7,953 shares during the period. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in Bank of New York Mellon by 117.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 19,249 shares of the bank’s stock valued at $1,479,000 after buying an additional 10,408 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its stake in Bank of New York Mellon by 1.1% in the 4th quarter. Peapack Gladstone Financial Corp now owns 27,579 shares of the bank’s stock worth $2,119,000 after acquiring an additional 298 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upped their target price on 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. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Finally, Truist Financial dropped their price objective on Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.86.

Bank of New York Mellon Stock Down 8.4 %

Shares of BK opened at $73.17 on Monday. 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 debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market capitalization of $52.53 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a 50-day simple moving average of $84.98 and a 200-day simple moving average of $80.08.

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. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.