Ballentine Partners LLC Sells 1,181 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Ballentine Partners LLC lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 5.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,779 shares of the bank’s stock after selling 1,181 shares during the quarter. Ballentine Partners LLC’s holdings in Bank of New York Mellon were worth $1,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares in the last quarter. Grove Bank & Trust grew its position in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth $46,000. Finally, Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth $49,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of recent research reports. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Morgan Stanley upped their price objective on 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. Finally, UBS Group upped their price objective 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Up 2.0 %

Bank of New York Mellon stock opened at $84.92 on Wednesday. The stock has a 50-day moving average of $78.96 and a two-hundred day moving average of $72.57. 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 Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $85.00. The stock has a market cap of $61.74 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.95 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business posted $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 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.