Federated Hermes Inc. Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Federated Hermes Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 7.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,160,709 shares of the bank’s stock after selling 91,990 shares during the quarter. Federated Hermes Inc.’s holdings in Bank of New York Mellon were worth $89,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BK. Czech National Bank increased its position in Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after purchasing an additional 7,316 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Bank of New York Mellon by 11.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock worth $60,426,000 after buying an additional 82,671 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Bank of New York Mellon by 9.2% in the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after buying an additional 7,935 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Bank of New York Mellon by 6.5% in the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after buying an additional 17,457 shares during the last quarter. Finally, Western Financial Corp CA purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $342,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 8.4 %

Shares of NYSE BK opened at $73.17 on Monday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The business has a fifty day moving average price of $84.98 and a 200 day moving average price of $80.08. The stock has a market capitalization of $52.53 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 company’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders 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 was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley decreased their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. 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 note on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Evercore ISI raised their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.86.

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.