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

Vanguard Group Inc. lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,916,873 shares of the bank’s stock after selling 426,373 shares during the period. Vanguard Group Inc. owned 0.10% of Bank of New York Mellon worth $5,525,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Czech National Bank raised its holdings in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares during the period. HighTower Advisors LLC raised its holdings in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after acquiring an additional 184,560 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in shares of Bank of New York Mellon during the 3rd quarter worth $1,010,000. Fifth Third Bancorp raised its holdings in shares of Bank of New York Mellon by 9.2% during the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after acquiring an additional 7,935 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after acquiring an additional 17,457 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BK. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Barclays boosted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.50.

Bank of New York Mellon Stock Performance

NYSE BK opened at $83.46 on Monday. The company has a market cap of $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. 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 stock has a 50-day moving average of $84.88 and a two-hundred day moving average of $79.10. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Bank of New York Mellon Company 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.