The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,334 shares of the bank's stock after selling 10,230 shares during the period. Cannell & Spears LLC's holdings in Bank of New York Mellon were worth $26,378,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BK. State Street Corp grew its stake in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank's stock valued at $2,393,915,000 after buying an additional 659,096 shares during the last quarter. Norges Bank acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $1,150,462,000. Arrowstreet Capital Limited Partnership grew its holdings in Bank of New York Mellon by 17.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after buying an additional 1,125,493 shares in the last quarter. Amundi lifted its holdings in shares of Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after buying an additional 359,942 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

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Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded down $5.34 during midday trading on Friday, hitting $74.57. The stock had a trading volume of 2,374,485 shares, compared to its average volume of 3,905,308. The company has a market capitalization of $53.54 billion, a PE ratio of 12.81, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The firm's fifty day moving average is $85.23 and its two-hundred day moving average is $79.93. 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 announced its quarterly 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $1.28 EPS. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.52%. Bank of New York Mellon's payout ratio is presently 32.36%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI boosted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research note on Tuesday. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Citigroup raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.