The Bank of New York Mellon Co. (NYSE:BK) Position Cut by Lincoln Capital LLC

Lincoln Capital LLC lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,900 shares of the bank’s stock after selling 1,131 shares during the period. Bank of New York Mellon accounts for 1.0% of Lincoln Capital LLC’s portfolio, making the stock its 23rd biggest holding. Lincoln Capital LLC’s holdings in Bank of New York Mellon were worth $4,833,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BK. State Street Corp grew its position in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. FMR LLC boosted its stake in shares of Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after acquiring an additional 421,161 shares during the last quarter. Legal & General Group Plc raised its position in shares of Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock worth $482,597,000 after purchasing an additional 97,286 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Bank of New York Mellon by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after purchasing an additional 117,974 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

BK opened at $83.31 on Monday. The company has a market capitalization of $60.57 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. 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 Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $83.67. The business has a 50-day moving average of $78.87 and a 200-day moving average of $72.32.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm 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 9.44% and a return on equity of 12.06%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.87 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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 paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 40.87%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BK. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group lifted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada restated 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. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley increased their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.14.

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.