Geode Capital Management LLC Has $1.36 Billion Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Geode Capital Management LLC lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,673,564 shares of the bank’s stock after selling 40,443 shares during the quarter. Geode Capital Management LLC owned approximately 2.43% of Bank of New York Mellon worth $1,355,930,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday. Barclays lifted their price objective 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. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed 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. Six 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

Bank of New York Mellon Stock Down 0.2 %

NYSE:BK opened at $83.74 on Wednesday. The company has a market cap of $60.12 billion, a price-to-earnings ratio of 14.41, 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 quick ratio of 0.70 and a current ratio of 0.69. The stock’s fifty day moving average price is $85.33 and its two-hundred day moving average price is $79.90. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for 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 quarter in the prior year, the firm posted $1.28 earnings per share. On average, 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 firm 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. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

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.