Vaughan David Investments LLC IL Cuts Position in The Bank of New York Mellon Co. (NYSE:BK)

Vaughan David Investments LLC IL lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,007 shares of the bank’s stock after selling 4,231 shares during the period. Vaughan David Investments LLC IL’s holdings in Bank of New York Mellon were worth $2,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Equitec Proprietary Markets LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $27,000. Fieldpoint Private Securities LLC boosted its holdings in Bank of New York Mellon by 125.6% in the 4th quarter. Fieldpoint Private Securities LLC now owns 485 shares of the bank’s stock worth $28,000 after buying an additional 270 shares during the last quarter. Ellis Investment Partners LLC boosted its holdings in Bank of New York Mellon by 100.7% in the 4th quarter. Ellis Investment Partners LLC now owns 606 shares of the bank’s stock worth $35,000 after buying an additional 304 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings in Bank of New York Mellon by 69.1% in the 4th quarter. McClarren Financial Advisors Inc. now owns 624 shares of the bank’s stock worth $37,000 after buying an additional 255 shares during the last quarter. Finally, Shore Point Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 83.69% of the company’s stock.

BK has been the topic of several research analyst reports. StockNews.com started coverage on Bank of New York Mellon in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their target price on Bank of New York Mellon from $70.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Bank of New York Mellon from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating and set a $55.00 target price on the stock. in a report on Thursday, March 31st. Finally, Morgan Stanley lowered their target price on Bank of New York Mellon from $58.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 19th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Hold” and a consensus price target of $57.86.

BK traded up $0.65 during trading hours on Friday, reaching $43.46. The company’s stock had a trading volume of 4,247,679 shares, compared to its average volume of 5,556,651. The Bank of New York Mellon Co. has a fifty-two week low of $41.76 and a fifty-two week high of $64.63. The stock has a market cap of $35.11 billion, a PE ratio of 10.76, a P/E/G ratio of 1.58 and a beta of 1.15. The business’s 50-day moving average is $47.82 and its 200-day moving average is $54.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.68 and a quick ratio of 0.65.

Bank of New York Mellon (NYSE:BK – Get Rating) last announced its earnings results on Monday, April 18th. The bank reported $0.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.86. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.94 billion. Bank of New York Mellon had a return on equity of 9.33% and a net margin of 22.31%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 earnings per share. Analysts expect that The Bank of New York Mellon Co. will post 4.48 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 11th. Shareholders of record on Thursday, April 28th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, April 27th. Bank of New York Mellon’s payout ratio is 33.66%.

Bank of New York Mellon Profile (Get Rating)

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, prime brokerage, and data analytics.

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