Rhumbline Advisers Lowers Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Rhumbline Advisers reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,524,294 shares of the bank’s stock after selling 55,339 shares during the period. Rhumbline Advisers’ holdings in Bank of New York Mellon were worth $117,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. PUREfi Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $247,000. ABC Arbitrage SA acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $2,418,000. Valeo Financial Advisors LLC raised its stake in shares of Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after acquiring an additional 139 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Bank of New York Mellon by 12.3% in the fourth quarter. Blue Trust Inc. now owns 1,879 shares of the bank’s stock valued at $144,000 after acquiring an additional 206 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $772,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 1.2 %

BK opened at $87.94 on Friday. The business’s 50-day simple moving average is $81.23 and its 200-day simple moving average is $75.43. 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 Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $88.25. The stock has a market capitalization of $63.94 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. Analysts anticipate that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

BK has been the topic of several analyst reports. Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group raised their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. 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 MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.00.

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.