Catalyst Funds Management Pty Ltd Trims Stake in The Bank of New York Mellon Co. (NYSE:BK)

Catalyst Funds Management Pty Ltd decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,800 shares of the bank’s stock after selling 1,000 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Bank of New York Mellon were worth $522,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Czech National Bank grew its position in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after buying an additional 7,316 shares during the period. HighTower Advisors LLC grew 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 valued at $23,449,000 after acquiring an additional 184,560 shares during the period. Primecap Management Co. CA raised its holdings in Bank of New York Mellon by 1.2% in the 3rd quarter. Primecap Management Co. CA now owns 719,900 shares of the bank’s stock worth $51,732,000 after purchasing an additional 8,400 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in Bank of New York Mellon during the third quarter worth approximately $1,010,000. Finally, Fifth Third Bancorp grew its holdings in Bank of New York Mellon by 9.2% in the fourth 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. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent analyst reports. Evercore ISI increased their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on shares of 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. Wells Fargo & Company upped 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. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Citigroup increased 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. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Trading Up 2.8 %

Shares of BK opened at $81.87 on Friday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The firm 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 firm has a 50-day moving average price of $84.30 and a 200 day moving average price of $78.47. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

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, 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 net margin of 11.35% and a return on equity of 12.68%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 EPS. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. 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.