Tweedy Browne Co LLC Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Tweedy Browne Co LLC reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 40.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,883 shares of the bank’s stock after selling 106,787 shares during the period. Bank of New York Mellon accounts for about 0.8% of Tweedy Browne Co LLC’s holdings, making the stock its 20th biggest position. Tweedy Browne Co LLC’s holdings in Bank of New York Mellon were worth $12,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Graney & King LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth $39,000. TCTC Holdings LLC increased its holdings in Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after acquiring an additional 430 shares during the last quarter. Modus Advisors LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $49,000. Finally, Friedenthal Financial bought a new position in Bank of New York Mellon during the fourth quarter worth about $56,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.6 %

Shares of BK stock opened at $84.00 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business has a 50-day moving average of $85.35 and a 200 day moving average of $79.80. The stock has a market capitalization of $60.31 billion, a PE ratio of 14.46, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its earnings results 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 net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business earned $1.28 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Wall Street Analyst Weigh In

Several research firms recently commented on BK. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Morgan Stanley raised their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial raised their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $89.71.

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.