Hamel Associates Inc. Sells 510 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Hamel Associates Inc. decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 97,990 shares of the bank’s stock after selling 510 shares during the quarter. Bank of New York Mellon accounts for 2.4% of Hamel Associates Inc.’s holdings, making the stock its 16th largest position. Hamel Associates Inc.’s holdings in Bank of New York Mellon were worth $7,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Advisor Group LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $595,000. Czech National Bank increased its holdings in shares of Bank of New York Mellon by 4.9% during the 4th 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 period. Principal Financial Group Inc. increased its holdings in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares during the period. Chase Investment Counsel Corp increased its holdings in shares of Bank of New York Mellon by 67.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares during the period. Finally, HighTower Advisors LLC increased its stake in Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after acquiring an additional 184,560 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BK. Evercore ISI upped their target price 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. Bank of America upped their target price 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. Truist Financial upped their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays upped their target price 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. Finally, UBS Group upped their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $88.86 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The firm’s 50 day moving average is $83.02 and its 200-day moving average is $77.11. The firm has a market capitalization of $64.60 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.97 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the business earned $1.28 earnings per share. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side 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 Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.12%. 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.