Edgar Lomax Co. VA Cuts Holdings in The Bank of New York Mellon Corporation $BK

Edgar Lomax Co. VA lessened its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 22.6% in the third quarter, Holdings Channel.com reports. The fund owned 128,934 shares of the bank’s stock after selling 37,675 shares during the quarter. Edgar Lomax Co. VA’s holdings in Bank of New York Mellon were worth $14,049,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Bank of New York Mellon by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after purchasing an additional 517,081 shares during the period. Geode Capital Management LLC lifted its position in Bank of New York Mellon by 4.3% during the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after buying an additional 785,478 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Bank of New York Mellon by 0.9% during the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock worth $1,439,831,000 after buying an additional 139,544 shares during the period. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Bank of New York Mellon by 36.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after acquiring an additional 577,621 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 1.4%

Shares of BK opened at $116.73 on Friday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The stock has a 50-day moving average price of $119.74 and a 200 day moving average price of $112.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $80.18 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.11 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Sell-side analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd 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 Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BK. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research report on Wednesday, January 14th. Wells Fargo & Company increased their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada boosted their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, TD Cowen increased their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

About Bank of New York Mellon

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.