The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,069,613 shares of the bank’s stock after selling 18,601 shares during the period. Federated Hermes Inc. owned 0.14% of Bank of New York Mellon worth $55,673,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. HF Advisory Group LLC lifted its position in Bank of New York Mellon by 33.0% in the fourth quarter. HF Advisory Group LLC now owns 6,663 shares of the bank’s stock valued at $347,000 after acquiring an additional 1,655 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Bank of New York Mellon by 95.1% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,539 shares of the bank’s stock valued at $80,000 after purchasing an additional 750 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Bank of New York Mellon by 10.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock valued at $3,950,000 after purchasing an additional 6,960 shares during the period. Scissortail Wealth Management LLC purchased a new position in Bank of New York Mellon during the 4th quarter worth approximately $560,000. Finally, Tyche Wealth Partners LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth approximately $428,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.9 %

BK opened at $56.29 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The stock has a market capitalization of $42.38 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.15 and a beta of 1.12. The business has a 50 day simple moving average of $55.76 and a 200-day simple moving average of $51.23.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.4 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Insider Activity

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of research reports. UBS Group raised their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Jefferies Financial Group lifted their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI increased their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Bank of America increased their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $60.06.

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.