Fort Washington Investment Advisors Inc. OH Has $730,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Fort Washington Investment Advisors Inc. OH lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,502 shares of the bank’s stock after selling 826 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Bank of New York Mellon were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BK. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Fortitude Family Office LLC boosted its position 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 worth $44,000 after acquiring an additional 346 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $49,000. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $46,000. Finally, Grove Bank & Trust boosted its position in shares of Bank of New York Mellon by 28.8% during the 3rd 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. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BK. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Truist Financial raised their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley raised their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $84.75 on Friday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $85.81. The firm has a fifty day simple moving average of $79.23 and a 200 day simple moving average of $72.82. The company has a market capitalization of $61.62 billion, a PE ratio of 14.59, a P/E/G ratio of 0.97 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $1.28 earnings per share. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.