The Bank of New York Mellon Co. (NYSE:BK) Position Reduced by Moody National Bank Trust Division

Moody National Bank Trust Division reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,808 shares of the bank’s stock after selling 1,063 shares during the period. Moody National Bank Trust Division’s holdings in Bank of New York Mellon were worth $1,138,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the period. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $32,000. Fortitude Family Office LLC lifted its holdings in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the last quarter. Grove Bank & Trust grew its position in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon in the third quarter worth $46,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $76.04 on Tuesday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $82.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a fifty day moving average price of $78.58 and a two-hundred day moving average price of $71.82. The firm has a market capitalization of $55.29 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BK. Citigroup upped their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group lifted their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.64.

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.