The Bank of New York Mellon Co. (NYSE:BK) Stock Position Lessened by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,069,613 shares of the bank’s stock after selling 18,601 shares during the period. Federated Hermes Inc.’s holdings in Bank of New York Mellon were worth $55,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of BK. Acadian Asset Management LLC increased its position in shares of Bank of New York Mellon by 160.0% during the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after purchasing an additional 3,297 shares during the period. Prudential PLC bought a new stake in Bank of New York Mellon in the first quarter worth about $1,096,000. Cetera Investment Advisers lifted its holdings in Bank of New York Mellon by 3.3% in the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,154 shares during the last quarter. Candriam Luxembourg S.C.A. grew its stake in shares of Bank of New York Mellon by 54.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock worth $11,519,000 after purchasing an additional 81,728 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of Bank of New York Mellon by 165.3% in the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock worth $72,000 after purchasing an additional 909 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.9 %

Shares of NYSE:BK opened at $56.29 on Friday. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $42.38 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. The firm has a fifty day moving average of $55.76 and a two-hundred day moving average of $51.23.

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

Bank of New York Mellon Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on BK. Bank of America lifted their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group boosted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup increased their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Evercore ISI boosted their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, 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 report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.06.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

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.