Rhumbline Advisers Sells 55,339 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Rhumbline Advisers cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,524,294 shares of the bank's stock after selling 55,339 shares during the quarter. Rhumbline Advisers owned about 0.21% of Bank of New York Mellon worth $117,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its position in Bank of New York Mellon by 11.4% during the third quarter. Vontobel Holding Ltd. now owns 63,884 shares of the bank's stock valued at $4,591,000 after purchasing an additional 6,544 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Bank of New York Mellon by 6.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 10,664 shares of the bank's stock valued at $766,000 after buying an additional 646 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in Bank of New York Mellon by 38.1% in the 3rd quarter. Ellsworth Advisors LLC now owns 4,783 shares of the bank's stock worth $344,000 after acquiring an additional 1,320 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Bank of New York Mellon by 1.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,763 shares of the bank's stock worth $5,444,000 after acquiring an additional 769 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its holdings in Bank of New York Mellon by 41.8% during the third quarter. Aaron Wealth Advisors LLC now owns 7,879 shares of the bank's stock valued at $566,000 after purchasing an additional 2,324 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Down 0.6 %

BK stock traded down $0.55 during midday trading on Wednesday, reaching $88.36. 4,038,631 shares of the company traded hands, compared to its average volume of 3,927,351. The firm has a market capitalization of $64.24 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 0.99 and a beta of 1.08. 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 business has a 50 day moving average of $81.54 and a 200-day moving average of $75.92. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $89.44.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts' expectations 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 business's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 earnings per share. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.93 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.13%. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BK. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday. Citigroup upped their price target 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. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Truist Financial upped their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. 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 company a "buy" rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus price target 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.