Zurcher Kantonalbank Zurich Cantonalbank Sells 149,113 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,783,520 shares of the bank’s stock after selling 149,113 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.25% of Bank of New York Mellon worth $137,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BK. Centricity Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $39,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $49,000. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon during the third quarter valued at about $46,000. Friedenthal Financial bought a new stake in Bank of New York Mellon during the fourth quarter valued at about $56,000. Finally, Asset Dedication LLC grew its position in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.5 %

Shares of BK opened at $85.98 on Monday. 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 stock has a market cap of $61.73 billion, a PE ratio of 14.80, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a 50 day simple moving average of $83.85 and a 200-day simple moving average of $78.03.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $4.66 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Analyst Ratings Changes

Several brokerages recently weighed in on BK. Truist Financial increased their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Bank of America increased their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Morgan Stanley increased 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, Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $88.71.

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.