Congress Wealth Management LLC DE Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Congress Wealth Management LLC DE trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 49.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,975 shares of the bank's stock after selling 38,405 shares during the period. Congress Wealth Management LLC DE's holdings in Bank of New York Mellon were worth $2,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC increased its position in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after acquiring an additional 430 shares during the period. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $49,000. Friedenthal Financial purchased a new position in Bank of New York Mellon in the fourth quarter valued at $56,000. Finally, Asset Dedication LLC grew its stake in Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank's stock worth $58,000 after purchasing an additional 585 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

BK traded up $1.29 during trading on Monday, hitting $84.00. 4,254,476 shares of the stock were exchanged, compared to its average volume of 3,899,679. 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 Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The stock has a fifty day moving average price of $85.35 and a two-hundred day moving average price of $79.80. The firm has a market capitalization of $60.31 billion, a P/E ratio of 14.46, a PEG ratio of 0.97 and a beta of 1.06.

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Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The business 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 EPS. As a group, sell-side analysts predict 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 firm 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. Bank of New York Mellon's dividend payout ratio (DPR) is 32.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Bank of America lifted 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 research note on Thursday, January 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average target price of $89.71.

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.