Andra AP Fonden Reduces Holdings in The Bank of New York Mellon Co.

Andra AP fonden has decreased its investment in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 33.6% in the fourth quarter, as evidenced by its recent 13F filing with the Securities and Exchange Commission (SEC). After selling 30,200 shares during this period, the fund now holds 59,700 shares of the bank's stock. At the end of the last quarter, Andra AP fonden's investment in Bank of New York Mellon was valued at approximately $4,587,000.

Several other institutional investors and hedge funds have also adjusted their positions in shares of BK recently. Centricity Wealth Management LLC made a new investment in Bank of New York Mellon during the fourth quarter, amounting to around $39,000. Similarly, Ashton Thomas Securities LLC established a new stake in the third quarter valued at about $46,000. In the fourth quarter, Modus Advisors LLC invested approximately $49,000, while Friedenthal Financial acquired a new position worth about $56,000. Additionally, Asset Dedication LLC significantly increased its stake in Bank of New York Mellon by 342.1% during the fourth quarter, now owning 756 shares valued at roughly $58,000 after purchasing an extra 585 shares. Currently, institutional investors and hedge funds hold around 85.31% of the company's stock.

Recent Analyst Ratings

The stock has been the focus of several research analyses. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating on January 3rd. On the other hand, Citigroup raised their price target for the stock from $75.00 to $82.00 and designated it with a "neutral" rating on November 25th. Barclays improved their target price from $102.00 to $104.00, giving the company an "overweight" rating on January 16th. StockNews.com also revised its rating, lowering Bank of New York Mellon from a "buy" to a "hold" on February 19th. Furthermore, Bank of America increased their price objective from $90.00 to $95.00, maintaining a "buy" rating on January 16th.

A total of six analysts have given the stock a hold rating, while ten have rated it as a buy. As per MarketBeat.com data, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average target price of $88.71.

Bank of New York Mellon Stock Update

The stock of Bank of New York Mellon opened at $85.98 last Friday. Its 50-day moving average is $83.85, with its 200-day moving average at $77.94. Over the past year, the stock has seen a low of $52.64 and a high of $90.34. The company's market capitalization stands at $61.59 billion, with a PE ratio of 14.80, and a price-to-earnings-growth ratio of 0.97, indicating its growth potential. The bank boasts a debt-to-equity ratio of 0.83, a current ratio of 0.69, and a quick ratio of 0.70.

Earnings Performance

Bank of New York Mellon released its earnings results on January 15th, reporting an EPS of $1.72 for the quarter, which exceeded the consensus estimate of $1.54 by $0.18. The company's revenue for the quarter was $4.85 billion, surpassing analyst expectations of $4.66 billion. The bank achieved a net margin of 11.35% and a return on equity of 12.68%. Moreover, the revenue increased by 11.2% compared to the previous year, where the earnings per share were reported at $1.28. Analysts expect that the bank will report an EPS of 6.96 for the current fiscal year.

Dividend Information

Recently, Bank of New York Mellon declared a quarterly dividend, which was distributed on February 7th. Shareholders who were on record as of January 27th received a $0.47 dividend, with the ex-dividend date also set for January 27th. This translates to an annualized dividend of $1.88, offering a yield of 2.19%. The company's dividend payout ratio currently stands at 32.36%.

Company Overview

The Bank of New York Mellon Corporation provides a variety of financial products and services, both domestically and internationally. The company operates via multiple segments, including Securities Services, Market and Wealth Services, Investment and Wealth Management. Within the Securities Services segment, it offers custody, accounting, exchange-traded funds, middle-office solutions, transfer agency services, and other financial solutions.

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