New York State Common Retirement Fund Decreases Stake in The Bank of New York Mellon Co. (NYSE:BK)

New York State Common Retirement Fund reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 877,069 shares of the bank’s stock after selling 124,768 shares during the period. New York State Common Retirement Fund owned about 0.12% of Bank of New York Mellon worth $67,385,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BK. Fortitude Family Office LLC increased its stake in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the period. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the 3rd quarter worth approximately $46,000. Modus Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $49,000. Concord Wealth Partners increased its stake in Bank of New York Mellon by 150.5% in the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after purchasing an additional 453 shares during the period. Finally, Friedenthal Financial purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $56,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of recent analyst reports. Bank of America lifted 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 report on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. UBS Group lifted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE:BK opened at $88.36 on Thursday. The stock has a fifty day simple moving average of $81.71 and a two-hundred day simple moving average of $76.00. The stock has a market capitalization of $64.24 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 0.99 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. 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 announced 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. 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 return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.93 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.