CKW Financial Group Sells 300 Shares of The Bank of New York Mellon Co. (NYSE:BK)

CKW Financial Group reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 10.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,500 shares of the bank’s stock after selling 300 shares during the period. CKW Financial Group’s holdings in Bank of New York Mellon were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of BK. McClarren Financial Advisors Inc. boosted its stake in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Fortitude Family Office LLC boosted its position in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the period. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon during the third quarter worth about $46,000. Finally, Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $85.82 on Monday. The company’s 50 day moving average price is $79.53 and its two-hundred day moving average price is $73.27. The firm has a market capitalization of $62.39 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.96 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $86.34. 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 data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BK. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Evercore ISI increased 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, Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the 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 $88.00.

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.