Lebenthal Global Advisors LLC Cuts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Lebenthal Global Advisors LLC reduced its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 73.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,495 shares of the bank's stock after selling 12,562 shares during the period. Lebenthal Global Advisors LLC's holdings in Bank of New York Mellon were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. United Advisor Group LLC bought a new stake in Bank of New York Mellon in the 3rd quarter valued at $595,000. Czech National Bank increased its position in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank's stock worth $12,112,000 after purchasing an additional 7,316 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after purchasing an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp increased its position in Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock valued at $6,002,000 after acquiring an additional 33,558 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank's stock valued at $23,449,000 after acquiring an additional 184,560 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.7 %

BK traded up $0.62 during mid-day trading on Tuesday, reaching $86.52. 3,248,240 shares of the stock were exchanged, compared to its average volume of 4,285,420. 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 stock has a market capitalization of $62.90 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The company has a 50 day moving average price of $79.67 and a two-hundred day moving average price of $73.44. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $86.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the business posted $1.28 EPS. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon's dividend payout ratio is presently 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.