Sabal Trust CO Sells 293,599 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Sabal Trust CO reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,400 shares of the bank's stock after selling 293,599 shares during the period. Bank of New York Mellon makes up approximately 1.7% of Sabal Trust CO's investment portfolio, making the stock its 17th biggest position. Sabal Trust CO owned 0.05% of Bank of New York Mellon worth $29,380,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC grew its stake in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after buying an additional 134 shares during the last quarter. Grove Bank & Trust grew its stake in shares of 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 during the last quarter. Avidian Wealth Enterprises LLC grew its stake in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after buying an additional 137 shares during the last quarter. Valeo Financial Advisors LLC grew its stake 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 purchasing an additional 139 shares during the last quarter. Finally, Stratos Investment Management LLC grew its stake 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 worth $393,000 after purchasing an additional 142 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. UBS Group boosted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of 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. Truist Financial boosted their price objective on shares of 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. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Bank of New York Mellon Trading Up 2.3 %

Bank of New York Mellon stock traded up $1.97 during trading hours on Friday, reaching $88.86. The stock had a trading volume of 7,187,969 shares, compared to its average volume of 4,209,997. The stock has a market cap of $64.60 billion, a PE ratio of 15.29, a PEG ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44. 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 company has a fifty day simple moving average of $83.02 and a 200-day simple moving average of $77.11.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates 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 was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's payout ratio is 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.