State of Alaska Department of Revenue Sells 24,551 Shares of The Bank of New York Mellon Co. (NYSE:BK)

State of Alaska Department of Revenue decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 22.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,904 shares of the bank’s stock after selling 24,551 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bank of New York Mellon were worth $6,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Atomi Financial Group Inc. lifted its holdings in shares of Bank of New York Mellon by 30.2% in the third quarter. Atomi Financial Group Inc. now owns 8,489 shares of the bank’s stock valued at $610,000 after purchasing an additional 1,971 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Bank of New York Mellon by 11.5% during the third quarter. Hexagon Capital Partners LLC now owns 1,966 shares of the bank’s stock worth $141,000 after buying an additional 202 shares in the last quarter. Wedmont Private Capital raised its position in Bank of New York Mellon by 9.4% in the 3rd quarter. Wedmont Private Capital now owns 5,724 shares of the bank’s stock valued at $415,000 after buying an additional 493 shares during the last quarter. Quotient Wealth Partners LLC bought a new position in Bank of New York Mellon during the 3rd quarter valued at $205,000. Finally, Tobam boosted its holdings in Bank of New York Mellon by 17.0% during the 3rd quarter. Tobam now owns 6,836 shares of the bank’s stock worth $491,000 after acquiring an additional 991 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $86.15 on Friday. The company has a 50-day moving average price of $80.61 and a two-hundred day moving average price of $74.51. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $62.64 billion, a PE ratio of 14.83, a P/E/G ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the business earned $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. Equities analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analysts Set New Price Targets

Several brokerages have recently commented on BK. Citigroup increased their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods lifted their target price 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. Barclays upped their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group lifted their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company upped their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.