Victory Capital Management Inc. Has $194.10 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Victory Capital Management Inc. reduced its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 62.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,526,313 shares of the bank’s stock after selling 4,148,116 shares during the quarter. Victory Capital Management Inc. owned approximately 0.35% of Bank of New York Mellon worth $194,097,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BK. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $39,000. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $46,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $49,000. Friedenthal Financial bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $56,000. Finally, Asset Dedication LLC grew its stake in shares of Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BK shares. Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Truist Financial raised their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Trading Down 3.2 %

Shares of Bank of New York Mellon stock opened at $85.56 on Wednesday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $61.29 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.97 and a beta of 1.06. The business has a fifty day simple moving average of $83.39 and a two-hundred day simple moving average of $77.60.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. Research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Bank of New York Mellon Profile

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.