Rhumbline Advisers decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,524,294 shares of the bank's stock after selling 55,339 shares during the quarter. Rhumbline Advisers owned 0.21% of Bank of New York Mellon worth $117,111,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Vontobel Holding Ltd. raised its holdings in shares of Bank of New York Mellon by 11.4% during the third quarter. Vontobel Holding Ltd. now owns 63,884 shares of the bank's stock valued at $4,591,000 after acquiring an additional 6,544 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Bank of New York Mellon by 6.4% during the third quarter. Bleakley Financial Group LLC now owns 10,664 shares of the bank's stock valued at $766,000 after acquiring an additional 646 shares during the last quarter. Ellsworth Advisors LLC raised its holdings in shares of Bank of New York Mellon by 38.1% during the third quarter. Ellsworth Advisors LLC now owns 4,783 shares of the bank's stock valued at $344,000 after acquiring an additional 1,320 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Bank of New York Mellon by 1.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,763 shares of the bank's stock valued at $5,444,000 after acquiring an additional 769 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of Bank of New York Mellon by 41.8% during the third quarter. Aaron Wealth Advisors LLC now owns 7,879 shares of the bank's stock valued at $566,000 after acquiring an additional 2,324 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.
A number of brokerages have commented on BK. Barclays increased their target price on 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. Evercore ISI upped their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an "in-line" rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Morgan Stanley upped their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Finally, Wolfe Research lowered Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.00.
Get Our Latest Stock Analysis on Bank of New York Mellon
Shares of Bank of New York Mellon stock opened at $87.94 on Friday. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $88.25. 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 has a 50 day moving average of $81.23 and a 200 day moving average of $75.43.
Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.
The company also recently declared 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.14%. Bank of New York Mellon's dividend payout ratio is currently 32.36%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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