Lbp Am Sa Cuts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Lbp Am Sa decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 59.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,100 shares of the bank’s stock after selling 62,815 shares during the quarter. Lbp Am Sa’s holdings in Bank of New York Mellon were worth $3,311,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Czech National Bank boosted its position in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after acquiring an additional 184,560 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Bank of New York Mellon by 1.2% during the 3rd quarter. Primecap Management Co. CA now owns 719,900 shares of the bank’s stock worth $51,732,000 after acquiring an additional 8,400 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $1,010,000. Finally, Fifth Third Bancorp boosted its position in shares of Bank of New York Mellon by 9.2% in the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after purchasing an additional 7,935 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. 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 research report on Tuesday, December 3rd. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Morgan Stanley upped their target price 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, Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.71.

Bank of New York Mellon Stock Up 2.8 %

BK opened at $81.87 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business has a 50 day simple moving average of $84.30 and a 200-day simple moving average of $78.47. The stock has a market capitalization of $58.78 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal 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 dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.30%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Bank of New York Mellon 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.