California State Teachers Retirement System Has $50.18 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

California State Teachers Retirement System lifted its position in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,302,565 shares of the bank’s stock after acquiring an additional 31,054 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Bank of New York Mellon worth $50,175,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BK. Acadian Asset Management LLC grew its stake in shares of Bank of New York Mellon by 160.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after acquiring an additional 3,297 shares in the last quarter. Prudential PLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth $1,096,000. Cetera Investment Advisers grew its position in Bank of New York Mellon by 3.3% during the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after buying an additional 1,154 shares during the period. Candriam Luxembourg S.C.A. grew its position in Bank of New York Mellon by 54.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after buying an additional 81,728 shares during the period. Finally, Zions Bancorporation N.A. grew its position in Bank of New York Mellon by 165.3% during the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after buying an additional 909 shares during the period. Institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BK. Barclays increased their price target on shares of 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. StockNews.com began coverage on shares of Bank of New York Mellon in a research report on Thursday. They set a “hold” rating for the company. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Wednesday, February 1st. Bank of America started coverage on shares of 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. Finally, The Goldman Sachs Group upgraded shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.19.

Bank of New York Mellon Trading Up 0.9 %

Shares of Bank of New York Mellon stock opened at $44.40 on Friday. The Bank of New York Mellon Co. has a 12-month low of $36.22 and a 12-month high of $53.63. The company has a market cap of $35.51 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.14 and a beta of 1.11. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $49.64 and its 200-day moving average price is $45.19.

Bank of New York Mellon (NYSE:BK – Get Rating) last announced its quarterly earnings results on Friday, January 13th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $4.12 billion. Bank of New York Mellon had a net margin of 12.87% and a return on equity of 10.78%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts expect that The Bank of New York Mellon Co. will post 4.83 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 3rd. Investors of record on Monday, January 23rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, January 20th. Bank of New York Mellon’s dividend payout ratio is currently 51.03%.

Bank of New York Mellon Company Profile

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.