The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 3.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 35,160 shares of the bank’s stock after selling 1,400 shares during the period. New Mexico Educational Retirement Board’s holdings in Bank of New York Mellon were worth $2,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. McClarren Financial Advisors Inc. lifted its holdings in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon during the third quarter valued at about $46,000. Modus Advisors LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $49,000. Finally, Concord Wealth Partners lifted its stake in Bank of New York Mellon by 150.5% during the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after buying an additional 453 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.2 %

NYSE:BK opened at $87.94 on Friday. The stock’s 50 day moving average price is $81.23 and its 200 day moving average price is $75.43. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $88.25. The company has a market capitalization of $63.94 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced 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. 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 for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.89 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued 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 2.14%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of 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. Citigroup upped their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Bank of America upped their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.