The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Lowered by Delta Asset Management LLC TN

Delta Asset Management LLC TN cut its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,607 shares of the bank's stock after selling 6,315 shares during the period. Bank of New York Mellon comprises about 2.1% of Delta Asset Management LLC TN's holdings, making the stock its 13th largest position. Delta Asset Management LLC TN's holdings in Bank of New York Mellon were worth $23,172,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Cape Investment Advisory Inc. grew its position in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock valued at $90,000 after purchasing an additional 131 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after buying an additional 133 shares during the last quarter. Grove Bank & Trust increased its position in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock worth $60,000 after buying an additional 135 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock worth $695,000 after acquiring an additional 139 shares during the last quarter. Finally, Stratos Investment Management LLC lifted its position in shares of Bank of New York Mellon by 2.9% in the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank's stock valued at $393,000 after acquiring an additional 142 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

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Bank of New York Mellon Stock Up 0.4 %

BK stock traded up $0.35 during trading on Monday, reaching $83.06. The stock had a trading volume of 1,132,368 shares, compared to its average volume of 4,266,204. The firm has a fifty day moving average price of $85.34 and a 200 day moving average price of $79.69. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $59.64 billion, a P/E ratio of 14.30, a PEG 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 - Get Free Report) last posted 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. The company had revenue of $4.85 billion for 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%. Bank of New York Mellon's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. On average, equities 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BK. Wolfe Research cut shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Bank of America lifted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Evercore ISI increased their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.71.

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.