Wells Fargo & Company MN Has $623.88 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Wells Fargo & Company MN decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,120,302 shares of the bank’s stock after selling 85,080 shares during the quarter. Wells Fargo & Company MN owned approximately 1.12% of Bank of New York Mellon worth $623,883,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Graney & King LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter worth $39,000. TCTC Holdings LLC increased its stake in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at about $49,000. Finally, Friedenthal Financial bought a new stake in Bank of New York Mellon during the 4th quarter worth about $56,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

NYSE BK opened at $73.17 on Friday. The firm’s 50 day moving average is $84.98 and its 200-day moving average is $79.95. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $52.53 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BK shares. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Bank of America increased their target price on 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. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Citigroup increased their price target 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, March 24th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $89.86.

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.