The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,058,396 shares of the bank’s stock after selling 8,223 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bank of New York Mellon were worth $194,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Centaurus Financial Inc. boosted its holdings in Bank of New York Mellon by 44.2% in the third quarter. Centaurus Financial Inc. now owns 5,720 shares of the bank’s stock valued at $220,000 after purchasing an additional 1,754 shares during the period. Gould Capital LLC boosted its holdings in Bank of New York Mellon by 2.4% in the third quarter. Gould Capital LLC now owns 55,667 shares of the bank’s stock valued at $2,144,000 after purchasing an additional 1,289 shares during the period. IHT Wealth Management LLC boosted its holdings in Bank of New York Mellon by 38.0% in the third quarter. IHT Wealth Management LLC now owns 11,234 shares of the bank’s stock valued at $433,000 after purchasing an additional 3,095 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Bank of New York Mellon by 15.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 15,342 shares of the bank’s stock valued at $592,000 after purchasing an additional 2,023 shares during the period. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Bank of New York Mellon in the third quarter valued at $2,708,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts 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 target price for the company in a report on Wednesday, January 4th. Citigroup lifted their price target on Bank of New York Mellon from $50.00 to $55.00 in a report on Friday, December 9th. Wolfe Research raised Bank of New York Mellon from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Wednesday, January 4th. Barclays lifted their price target on Bank of New York Mellon from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Finally, StockNews.com started coverage on Bank of New York Mellon in a report on Thursday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Hold” and an average target price of $52.19.

Bank of New York Mellon Stock Down 4.1 %

Bank of New York Mellon stock opened at $42.58 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $36.22 and a fifty-two week high of $53.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $34.05 billion, a P/E ratio of 14.68, a PEG ratio of 1.18 and a beta of 1.11. The stock has a 50-day simple moving average of $49.53 and a 200-day simple moving average of $45.20.

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

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 3rd. Investors of record on Monday, January 23rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.48%. The ex-dividend date was Friday, January 20th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 51.03%.

Bank of New York Mellon 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.