The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Cut by Gabelli Funds LLC

Gabelli Funds LLC lessened its position in The Bank of New York Mellon Co. (NYSE:BK) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,608,994 shares of the bank’s stock after selling 58,956 shares during the period. Bank of New York Mellon makes up 0.9% of Gabelli Funds LLC’s holdings, making the stock its 16th largest position. Gabelli Funds LLC owned about 0.22% of Bank of New York Mellon worth $123,619,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cape Investment Advisory Inc. boosted its stake in shares of Bank of New York Mellon by 12.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Bank of New York Mellon by 0.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after purchasing an additional 133 shares during the period. Grove Bank & Trust increased its stake in Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after purchasing an additional 135 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after buying an additional 139 shares during the period. Finally, Stratos Investment Management LLC lifted its stake in Bank of New York Mellon by 2.9% during the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.2 %

Shares of BK stock opened at $77.53 on Tuesday. The company has a market capitalization of $55.66 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.97 and a beta of 1.03. 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 stock’s 50 day simple moving average is $83.46 and its 200 day simple moving average is $80.28. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, research analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BK. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Morgan Stanley lowered their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Bank of America increased their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Evercore ISI lifted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.64.

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.