Taika Capital LP Trims Position in The Bank of New York Mellon Co. (NYSE:BK)

Taika Capital LP cut its position in The Bank of New York Mellon Co. (NYSE:BK) by 66.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,750 shares of the bank’s stock after selling 9,577 shares during the period. Taika Capital LP’s holdings in Bank of New York Mellon were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BK. State Street Corp boosted its position in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. FMR LLC boosted its position in shares of Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares during the last quarter. Amundi boosted its position in shares of Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after acquiring an additional 359,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Bank of New York Mellon by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after acquiring an additional 117,974 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $85.98 on Monday. The firm has a 50-day moving average price of $83.85 and a 200-day moving average price of $78.03. The firm has a market capitalization of $61.73 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. 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 Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates 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 was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $1.28 EPS. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

BK has been the subject of a number of research reports. Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Evercore ISI increased their price objective on shares of 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. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Barclays increased their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.71.

About Bank of New York Mellon

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.