Amalgamated Bank Sells 5,445 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Amalgamated Bank lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 139,958 shares of the bank’s stock after selling 5,445 shares during the quarter. Amalgamated Bank’s holdings in Bank of New York Mellon were worth $10,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BK. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $39,000. 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 bought a new position in Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the third quarter valued at approximately $46,000. Finally, Friedenthal Financial bought a new stake in Bank of New York Mellon during the fourth quarter worth $56,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $86.70 on Wednesday. The stock has a market cap of $63.04 billion, a price-to-earnings ratio of 14.92, 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. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The company’s fifty day moving average is $82.38 and its 200 day moving average is $76.80.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.17%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BK. Citigroup lifted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Bank of America increased their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Truist Financial lifted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.