The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,958 shares of the bank's stock after selling 5,445 shares during the period. Amalgamated Bank's holdings in Bank of New York Mellon were worth $10,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. United Advisor Group LLC purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $595,000. Czech National Bank raised its holdings in shares of Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock worth $12,112,000 after buying an additional 7,316 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after buying an additional 14,916 shares during the period. Chase Investment Counsel Corp raised its holdings in shares of Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock worth $6,002,000 after buying an additional 33,558 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank's stock worth $23,449,000 after buying an additional 184,560 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 2.3 %

BK stock traded up $1.97 on Friday, hitting $88.86. 7,187,969 shares of the company's stock were exchanged, compared to its average volume of 4,209,997. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The firm has a 50 day moving average price of $83.02 and a two-hundred day moving average price of $77.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market cap of $64.60 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the business earned $1.28 EPS. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.12%. Bank of New York Mellon's dividend payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Citigroup increased their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Finally, Bank of America increased their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

Bank of New York Mellon Profile

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.