Patton Fund Management Inc. Lowers Stake in The Bank of New York Mellon Co. (NYSE:BK)

Patton Fund Management Inc. decreased its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,082 shares of the bank's stock after selling 10,217 shares during the period. Patton Fund Management Inc.'s holdings in Bank of New York Mellon were worth $5,308,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BK. Smith Group Asset Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $691,000. BOCHK Asset Management Ltd acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $5,562,000. Asset Dedication LLC lifted its holdings in shares of Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank's stock worth $58,000 after acquiring an additional 585 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of Bank of New York Mellon by 1,796.7% in the 4th quarter. SteelPeak Wealth LLC now owns 60,354 shares of the bank's stock worth $4,637,000 after acquiring an additional 57,172 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Bank of New York Mellon by 5.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 17,541 shares of the bank's stock worth $1,348,000 after acquiring an additional 857 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE BK traded down $0.49 during mid-day trading on Friday, reaching $86.01. The company had a trading volume of 3,905,697 shares, compared to its average volume of 3,812,559. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a 50 day simple moving average of $80.29 and a two-hundred day simple moving average of $73.91. The stock has a market cap of $62.53 billion, a P/E ratio of 14.80, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $87.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company's revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.28 EPS. Sell-side analysts predict that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon's payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BK. UBS Group increased their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Bank of America increased their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

About Bank of New York Mellon

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.