Foundry Partners LLC Has $27.67 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Foundry Partners LLC cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 385,082 shares of the bank’s stock after selling 1,947 shares during the quarter. Bank of New York Mellon accounts for about 1.4% of Foundry Partners LLC’s investment portfolio, making the stock its 13th largest holding. Foundry Partners LLC’s holdings in Bank of New York Mellon were worth $27,672,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BK. Ameriprise Financial Inc. raised its holdings in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after acquiring an additional 421,161 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock valued at $490,640,000 after buying an additional 179,503 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Bank of New York Mellon by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after buying an additional 97,286 shares in the last quarter. LSV Asset Management grew its stake in shares of Bank of New York Mellon by 3.9% in the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after buying an additional 286,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Bank of New York Mellon by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock worth $434,370,000 after buying an additional 454,151 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.3 %

BK opened at $77.86 on Thursday. The business has a 50 day moving average of $74.60 and a 200-day moving average of $66.40. The stock has a market capitalization of $56.61 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 0.89 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 1-year low of $46.71 and a 1-year high of $80.29.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.41%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on BK shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Barclays upped their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Evercore ISI raised their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $77.23.

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.