Haverford Trust Co Reduces Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Haverford Trust Co decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,003 shares of the bank’s stock after selling 169 shares during the period. Haverford Trust Co’s holdings in Bank of New York Mellon were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Prudential Financial Inc. increased its holdings in Bank of New York Mellon by 1.9% during the 4th quarter. Prudential Financial Inc. now owns 1,950,284 shares of the bank’s stock valued at $149,840,000 after acquiring an additional 36,029 shares in the last quarter. Twin City Private Wealth LLC increased its stake in shares of Bank of New York Mellon by 16.7% during the 4th quarter. Twin City Private Wealth LLC now owns 8,359 shares of the bank’s stock worth $642,000 after purchasing an additional 1,194 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $83,000. Napatree Capital LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $209,000. Finally, LPL Financial LLC grew its holdings in Bank of New York Mellon by 20.1% during the 4th quarter. LPL Financial LLC now owns 448,672 shares of the bank’s stock valued at $34,471,000 after buying an additional 74,948 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BK shares. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price 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. Finally, UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.71.

Bank of New York Mellon Price Performance

BK opened at $85.21 on Wednesday. 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 50 day moving average of $85.24 and a two-hundred day moving average of $79.35. The company has a market cap of $61.18 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm 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 return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 EPS. On average, 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.