Charles Schwab Investment Management Inc. Has $195.29 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Charles Schwab Investment Management Inc. lowered its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 4,386,611 shares of the bank’s stock after selling 48,643 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bank of New York Mellon were worth $195,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of BK. Acadian Asset Management LLC boosted its stake in Bank of New York Mellon by 160.0% during the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after buying an additional 3,297 shares in the last quarter. Prudential PLC bought a new position in shares of Bank of New York Mellon during the first quarter valued at $1,096,000. Cetera Investment Advisers lifted its holdings in shares of Bank of New York Mellon by 3.3% during the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,154 shares during the period. Candriam Luxembourg S.C.A. lifted its holdings in shares of Bank of New York Mellon by 54.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after acquiring an additional 81,728 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Bank of New York Mellon by 165.3% during the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after acquiring an additional 909 shares during the period. Institutional investors and hedge funds own 81.29% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of analyst reports. Bank of America cut their price objective on Bank of New York Mellon from $55.00 to $53.00 in a report on Tuesday, October 10th. Morgan Stanley cut their price objective on Bank of New York Mellon from $48.00 to $46.00 and set an “underweight” rating for the company in a report on Tuesday, October 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Bank of New York Mellon from $45.00 to $44.00 and set a “hold” rating for the company in a report on Wednesday, October 11th. Evercore ISI cut their price objective on Bank of New York Mellon from $47.00 to $45.00 in a report on Thursday, October 5th. Finally, StockNews.com assumed coverage on Bank of New York Mellon in a report on Thursday, October 5th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.40.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $47.19 on Friday. The stock has a 50-day simple moving average of $43.42 and a 200 day simple moving average of $43.54. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $52.26. The stock has a market capitalization of $36.29 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, October 17th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.12. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Bank of New York Mellon had a return on equity of 11.84% and a net margin of 11.81%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 4.88 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, October 27th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, October 26th. This represents a $1.68 annualized dividend and a yield of 3.56%. Bank of New York Mellon’s dividend payout ratio is currently 39.44%.

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.