Sit Investment Associates Inc. Reduces Position in The Bank of New York Mellon Co. (NYSE:BK)

Sit Investment Associates Inc. trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,310 shares of the bank's stock after selling 73,430 shares during the period. Sit Investment Associates Inc.'s holdings in Bank of New York Mellon were worth $4,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Czech National Bank grew its stake in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after acquiring an additional 7,316 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after purchasing an additional 82,671 shares during the period. Fifth Third Bancorp raised its position in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock worth $7,226,000 after buying an additional 7,935 shares in the last quarter. Natixis Advisors LLC boosted its stake in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after buying an additional 17,457 shares during the period. Finally, Western Financial Corp CA purchased a new position in Bank of New York Mellon during the fourth quarter worth about $342,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded up $0.87 during mid-day trading on Friday, hitting $77.48. The company had a trading volume of 2,987,335 shares, compared to its average volume of 3,967,245. The company has a market capitalization of $55.63 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The company's fifty day moving average is $83.77 and its 200-day moving average is $80.14. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. Equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

BK has been the topic of a number of research analyst reports. StockNews.com lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note 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. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus target price of $89.86.

Bank of New York Mellon Company 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.