The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,847 shares of the bank’s stock after selling 32,903 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Bank of New York Mellon were worth $22,192,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Graney & King LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $39,000. TCTC Holdings LLC boosted its position in Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the period. Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $49,000. Finally, Friedenthal Financial purchased a new position in Bank of New York Mellon in the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK stock opened at $73.17 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a market capitalization of $52.53 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock’s fifty day moving average is $84.98 and its two-hundred day moving average is $80.02.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $1.28 EPS. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BK shares. Evercore ISI upped their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Citigroup upped their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Morgan Stanley dropped their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.86.

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.