The Bank of New York Mellon Co. (NYSE:BK) Stock Position Lessened by FDx Advisors Inc.

FDx Advisors Inc. decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 22.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,023 shares of the bank’s stock after selling 1,422 shares during the quarter. FDx Advisors Inc.’s holdings in Bank of New York Mellon were worth $386,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of BK. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after buying an additional 3,142,869 shares during the period. Zacks Investment Management acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at $62,589,000. State Street Corp lifted its holdings in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after buying an additional 659,096 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Bank of New York Mellon by 248.3% in the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock valued at $61,715,000 after buying an additional 612,287 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BK shares. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price 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. Citigroup upped their target price 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. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Down 1.3 %

Shares of NYSE BK 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 firm has a market capitalization of $63.40 billion, a PE ratio of 15.01, a PEG ratio of 1.01 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $81.87 and a two-hundred day moving average price of $76.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business earned $1.28 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts predict that The Bank of New York Mellon Co. will post 6.93 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.16%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Bank of New York Mellon Company Profile

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.