Paradigm Asset Management Co. LLC Sells 3,200 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Paradigm Asset Management Co. LLC cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the bank’s stock after selling 3,200 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Bank of New York Mellon were worth $1,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BK. Blue Trust Inc. lifted its position in Bank of New York Mellon by 95.4% in the 3rd quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock valued at $120,000 after acquiring an additional 817 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in Bank of New York Mellon by 10.8% in the 3rd quarter. Foundations Investment Advisors LLC now owns 9,302 shares of the bank’s stock valued at $668,000 after acquiring an additional 909 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Bank of New York Mellon by 186.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 50,613 shares of the bank’s stock valued at $3,637,000 after acquiring an additional 32,914 shares in the last quarter. Signaturefd LLC lifted its position in Bank of New York Mellon by 1.1% in the 3rd quarter. Signaturefd LLC now owns 14,386 shares of the bank’s stock valued at $1,034,000 after acquiring an additional 157 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $67,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $87.20 on Friday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44. 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 company has a 50 day moving average price of $81.87 and a 200 day moving average price of $76.08. The firm has a market capitalization of $63.40 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.93 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.16%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BK. Citigroup increased their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays increased their price target 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. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.