Chevy Chase Trust Holdings LLC Has $29.51 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 384,102 shares of the bank's stock after selling 14,151 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Bank of New York Mellon worth $29,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Studio Investment Management LLC grew its position in shares of Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after purchasing an additional 134 shares in the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after acquiring an additional 135 shares during the period. Grove Bank & Trust lifted its holdings in shares of Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank's stock worth $60,000 after acquiring an additional 135 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after acquiring an additional 137 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 1.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock worth $928,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Trading Down 0.6 %

Shares of BK stock traded down $0.55 during trading hours on Wednesday, hitting $88.36. 4,058,115 shares of the company's stock traded hands, compared to its average volume of 3,927,351. The stock's 50 day simple moving average is $81.54 and its 200 day simple moving average is $75.92. The stock has a market cap of $64.24 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.08. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $89.44. 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 - Get Free Report) last released 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. 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 during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The company's revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.93 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed 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. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday. Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped 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, UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.00.

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.