Matthew Goff Investment Advisor LLC Trims Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Matthew Goff Investment Advisor LLC cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 282,005 shares of the bank’s stock after selling 279 shares during the period. Bank of New York Mellon comprises approximately 4.0% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 6th largest holding. Matthew Goff Investment Advisor LLC’s holdings in Bank of New York Mellon were worth $21,666,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. United Advisor Group LLC purchased a new position in shares of Bank of New York Mellon in the third quarter worth $595,000. Czech National Bank grew its holdings in Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after acquiring an additional 14,916 shares during the period. Chase Investment Counsel Corp increased its position in shares of Bank of New York Mellon by 67.2% in the third 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 during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after acquiring an additional 421,161 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore ISI boosted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped 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 report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.5 %

Shares of NYSE:BK opened at $84.75 on Friday. 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 stock has a fifty day simple moving average of $79.23 and a two-hundred day simple moving average of $72.82. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $85.81. The stock has a market capitalization of $61.62 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) 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 company 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%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.22%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Bank of New York Mellon 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.