Lincoln Capital Corp Has $307,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Lincoln Capital Corp decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the bank’s stock after selling 900 shares during the period. Lincoln Capital Corp’s holdings in Bank of New York Mellon were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BK. McClarren Financial Advisors Inc. grew its holdings in 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 during the period. Fortitude Family Office LLC boosted its holdings in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the third quarter valued at approximately $46,000. Finally, Modus Advisors LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.5 %

Shares of BK stock opened at $84.75 on Friday. The stock’s fifty day simple moving average is $79.23 and its 200 day simple moving average is $72.82. 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 market capitalization of $61.62 billion, a P/E 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 issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm 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. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.22%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analysts Set New Price Targets

Several research analysts have weighed in on BK shares. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Citigroup raised 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 lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.