Los Angeles Capital Management LLC Sells 12,214 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Los Angeles Capital Management LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 26.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,788 shares of the bank’s stock after selling 12,214 shares during the period. Los Angeles Capital Management LLC’s holdings in Bank of New York Mellon were worth $1,302,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BK. Hazlett Burt & Watson Inc. lifted its holdings in shares of Bank of New York Mellon by 132.2% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 692 shares of the bank’s stock worth $26,000 after purchasing an additional 394 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at $26,000. Rock Creek Group LP raised its position in Bank of New York Mellon by 273.8% in the 2nd quarter. Rock Creek Group LP now owns 729 shares of the bank’s stock valued at $30,000 after buying an additional 534 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Finally, Gradient Investments LLC raised its position in Bank of New York Mellon by 74.0% in the 3rd quarter. Gradient Investments LLC now owns 802 shares of the bank’s stock valued at $31,000 after buying an additional 341 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com assumed coverage on Bank of New York Mellon in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays increased their price target on Bank of New York Mellon from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Bank of America assumed coverage on Bank of New York Mellon in a research report on Thursday, January 12th. They set a “buy” rating and a $56.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $43.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, November 15th. Finally, Morgan Stanley raised their target price on Bank of New York Mellon from $44.00 to $47.00 and gave the company an “underweight” rating in a research report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.04.

Bank of New York Mellon Stock Up 0.7 %

Shares of NYSE BK opened at $49.24 on Monday. The Bank of New York Mellon Co. has a 52 week low of $36.22 and a 52 week high of $64.63. The business has a 50-day simple moving average of $45.74 and a two-hundred day simple moving average of $43.36. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.86. The company has a market cap of $39.80 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.31 and a beta of 1.08.

Bank of New York Mellon (NYSE:BKGet Rating) last issued its quarterly earnings results on Friday, January 13th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.12 billion. Bank of New York Mellon had a return on equity of 10.78% and a net margin of 12.87%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.04 EPS. Research analysts anticipate that The Bank of New York Mellon Co. will post 4.7 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 3rd. Stockholders of record on Monday, January 23rd will be given a dividend of $0.37 per share. The ex-dividend date is Friday, January 20th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.01%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 51.03%.

Bank of New York Mellon Company Profile

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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.

See Also

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

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