The Bank of New York Mellon Co. (NYSE:BK) Position Trimmed by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 22,093 shares of the bank’s stock after selling 903 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Bank of New York Mellon were worth $851,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BK. Hazlett Burt & Watson Inc. lifted its holdings in shares of Bank of New York Mellon by 132.2% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 692 shares of the bank’s stock valued at $26,000 after buying an additional 394 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $26,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Bank of New York Mellon by 74.0% during the 3rd quarter. Gradient Investments LLC now owns 802 shares of the bank’s stock valued at $31,000 after buying an additional 341 shares during the last quarter. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $32,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BK shares. The Goldman Sachs Group upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, January 4th. Citigroup boosted their target price on Bank of New York Mellon from $50.00 to $55.00 in a report on Friday, December 9th. Bank of America initiated coverage on Bank of New York Mellon in a report on Thursday, January 12th. They issued a “buy” rating and a $56.00 target price for the company. Wolfe Research upgraded Bank of New York Mellon from a “peer perform” rating to an “outperform” rating and set a $60.00 target price for the company in a report on Wednesday, January 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Hold” and a consensus target price of $52.19.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $45.73 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $49.77 and its two-hundred day moving average is $45.20. The company has a market cap of $36.57 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.22 and a beta of 1.11. The Bank of New York Mellon Co. has a 12 month low of $36.22 and a 12 month high of $53.63.

Bank of New York Mellon (NYSE:BK – Get Rating) last issued its quarterly earnings results on Friday, January 13th. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $4.12 billion. Bank of New York Mellon had a return on equity of 10.78% and a net margin of 12.87%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 EPS. On average, equities analysts expect that The Bank of New York Mellon Co. will post 4.83 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 3rd. Stockholders of record on Monday, January 23rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, January 20th. Bank of New York Mellon’s dividend payout ratio is presently 51.03%.

Bank of New York Mellon Company Profile

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.