Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 154,599 shares of the bank’s stock after selling 6,047 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Bank of New York Mellon were worth $11,878,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. iA Global Asset Management Inc. grew its position in shares of Bank of New York Mellon by 117.1% in the fourth quarter. iA Global Asset Management Inc. now owns 23,416 shares of the bank’s stock valued at $1,799,000 after purchasing an additional 12,629 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Bank of New York Mellon during the fourth quarter valued at $223,000. Xponance Inc. boosted its stake in Bank of New York Mellon by 3.9% during the fourth quarter. Xponance Inc. now owns 124,250 shares of the bank’s stock valued at $9,546,000 after buying an additional 4,618 shares during the period. Intech Investment Management LLC boosted its stake in Bank of New York Mellon by 151.8% during the fourth quarter. Intech Investment Management LLC now owns 435,303 shares of the bank’s stock valued at $33,444,000 after buying an additional 262,437 shares during the period. Finally, Generali Asset Management SPA SGR bought a new stake in Bank of New York Mellon during the fourth quarter valued at $7,545,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Evercore ISI lifted their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on 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. Morgan Stanley lifted their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. 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, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Bank of New York Mellon Trading Down 0.6 %

Shares of BK stock opened at $83.46 on Friday. The stock has a market capitalization of $59.92 billion, a PE ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The business has a 50-day moving average of $84.88 and a 200 day moving average of $78.94. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its 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 company 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%. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.25%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.