The Bank of New York Mellon Corporation $BK Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 712,398 shares of the bank’s stock after selling 60,966 shares during the quarter. New York State Teachers Retirement System’s holdings in Bank of New York Mellon were worth $77,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd acquired a new position in shares of Bank of New York Mellon during the 3rd quarter valued at about $589,000. Cedar Mountain Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $322,000. Forum Financial Management LP grew its stake in shares of Bank of New York Mellon by 6.4% during the 3rd quarter. Forum Financial Management LP now owns 22,303 shares of the bank’s stock valued at $2,430,000 after buying an additional 1,350 shares during the period. ORG Wealth Partners LLC increased its holdings in shares of Bank of New York Mellon by 59.2% during the 3rd quarter. ORG Wealth Partners LLC now owns 1,641 shares of the bank’s stock worth $179,000 after buying an additional 610 shares during the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH raised its position in shares of Bank of New York Mellon by 4.0% in the 3rd quarter. MASTERINVEST Kapitalanlage GmbH now owns 8,694 shares of the bank’s stock worth $947,000 after buying an additional 331 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Morgan Stanley boosted their target price on Bank of New York Mellon from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Finally, Barclays raised their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.43.

Bank of New York Mellon Trading Down 0.8%

NYSE BK opened at $119.03 on Friday. The stock has a market cap of $83.01 billion, a P/E ratio of 17.18, a PEG ratio of 0.92 and a beta of 1.11. The company’s fifty day simple moving average is $113.67 and its 200-day simple moving average is $106.51. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $122.36.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.