Inlet Private Wealth LLC Reduces Stake in The Bank of New York Mellon Co.

Inlet Private Wealth LLC has decreased its investment in The Bank of New York Mellon Co. (NYSE:BK) by 19.4% during the fourth quarter, as stated in its latest filing with the Securities and Exchange Commission. After selling 7,100 shares, Inlet Private Wealth LLC now holds a total of 29,450 shares of the bank, which were valued at approximately $2.26 million at the end of that quarter.

Institutional Investor Activity

Several other institutional investors have also adjusted their positions in the bank. For instance, Northwestern Mutual Wealth Management Co. increased its holdings in Bank of New York Mellon by 2.8% in the second quarter, acquiring an additional 1,023 shares to reach a total of 37,093 shares, valued at about $2.22 million. NewEdge Advisors LLC raised its stake by a substantial 66.8% during the same quarter, now owning 28,596 shares valued at $1.71 million after buying 11,457 additional shares. EP Wealth Advisors LLC entered a new position with a value of $234,000, while Sanctuary Advisors LLC also acquired a new stake worth $5.23 million. Lastly, Healthcare of Ontario Pension Plan Trust Fund slightly increased its holdings by 0.9%, now owning 387,500 shares worth around $23.21 million. Collectively, institutional investors hold approximately 85.31% of the company’s shares.

Recent Analyst Ratings

In recent evaluations, various research analysts have provided updates on the shares of Bank of New York Mellon. Wolfe Research downgraded the stock from an "outperform" to a "peer perform" rating on January 3rd. Conversely, Keefe, Bruyette & Woods raised their price target from $87.00 to $96.00, maintaining an "outperform" rating. JPMorgan Chase & Co. increased their target price from $69.00 to $77.00 with an "overweight" rating. Barclays also lifted their price target from $102.00 to $104.00 and maintained an "overweight" rating. Finally, Truist Financial increased their price objective from $91.00 to $93.00, giving the company a "buy" rating. Presently, five analysts have rated the stock with a hold rating, while eleven have given it a buy rating, leading to a consensus rating of "Moderate Buy" and a target price of $88.00 according to MarketBeat.

Performance and Financial Metrics

The shares of Bank of New York Mellon started at $86.01 on the opening day, with a market capitalization of $62.53 billion. The company’s price-to-earnings ratio stands at 14.80, and its PEG ratio is 0.98, accompanied by a beta of 1.08. Financial metrics include a quick ratio of 0.70, a current ratio of 0.69, and a debt-to-equity ratio of 0.83. The bank's stock price has a 50-day moving average of $80.29 and a 200-day moving average of $73.91, showcasing a twelve-month low of $52.64 and a high of $87.70.

Recent Earnings Report

On January 15th, Bank of New York Mellon disclosed its latest quarterly earnings, reporting an earnings per share (EPS) of $1.72, surpassing analysts' expectations of $1.54 by $0.18. Total revenue for the quarter was reported at $4.85 billion, exceeding forecasted figures of $4.66 billion. The bank recorded a net margin of 11.35% and a return on equity of 12.68%, indicating an 11.2% increase in revenue compared to the same quarter last year when the EPS was $1.28. Analysts forecast that the company will post an EPS of 6.86 for the current fiscal year.

Dividend Information

Additionally, the Bank of New York Mellon has announced its upcoming quarterly dividend, set to be paid on February 7th. Those holding shares by January 27th will receive a dividend of $0.47 per share. The ex-dividend date is also January 27th, indicating an annualized dividend of $1.88, yielding approximately 2.19%. The dividend payout ratio (DPR) is 32.36%.

About The Bank of New York Mellon

The Bank of New York Mellon Corporation is a provider of a wide range of financial products and services both domestically and internationally. The company operates through several segments, including Securities Services, Market and Wealth Services, and Investment and Wealth Management, among others. Its Securities Services segment offers various services, including custody, trust services, and liquidity solutions.

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