Moody National Bank Trust Division Sells 3,910 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Moody National Bank Trust Division lessened its holdings in The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 12.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,631 shares of the bank’s stock after selling 3,910 shares during the quarter. Moody National Bank Trust Division’s holdings in Bank of New York Mellon were worth $1,322,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BK. Norges Bank bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $555,083,000. Millennium Management LLC lifted its position in Bank of New York Mellon by 1,368.8% during the 4th quarter. Millennium Management LLC now owns 1,668,416 shares of the bank’s stock worth $96,902,000 after buying an additional 1,554,823 shares in the last quarter. Alberta Investment Management Corp lifted its position in Bank of New York Mellon by 383.4% during the 4th quarter. Alberta Investment Management Corp now owns 1,017,951 shares of the bank’s stock worth $59,123,000 after buying an additional 807,351 shares in the last quarter. Zacks Investment Management acquired a new position in Bank of New York Mellon during the 4th quarter worth about $36,272,000. Finally, Tobias Financial Advisors Inc. acquired a new position in Bank of New York Mellon during the 4th quarter worth about $35,917,000. 83.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BK opened at $42.23 on Thursday. The company has a market capitalization of $34.11 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.60 and a beta of 1.14. The firm’s 50 day simple moving average is $44.10 and its 200 day simple moving average is $51.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.68 and a quick ratio of 0.68. The Bank of New York Mellon Co. has a fifty-two week low of $40.26 and a fifty-two week high of $64.63.

Bank of New York Mellon (NYSE:BKGet Rating) last announced its quarterly earnings results on Monday, April 18th. The bank reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.94 billion. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 9.33%. Bank of New York Mellon’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. Equities research analysts expect that The Bank of New York Mellon Co. will post 4.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 11th. Investors of record on Thursday, April 28th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, April 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.22%. Bank of New York Mellon’s payout ratio is 33.66%.

Several research analysts recently issued reports on BK shares. Morgan Stanley reduced their price target on shares of Bank of New York Mellon from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 2nd. Barclays reduced their price target on shares of Bank of New York Mellon from $74.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 19th. StockNews.com initiated coverage on shares of Bank of New York Mellon in a research report on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group cut their target price on shares of Bank of New York Mellon from $60.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 19th. Finally, JPMorgan Chase & Co. downgraded shares of Bank of New York Mellon from an “overweight” rating to a “neutral” rating and cut their target price for the company from $59.00 to $51.50 in a research report on Wednesday, April 27th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $56.38.

About Bank of New York Mellon (Get Rating)

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, prime brokerage, and data analytics.

Further Reading

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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