The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,526,313 shares of the bank's stock after selling 4,148,116 shares during the period. Victory Capital Management Inc. owned approximately 0.35% of Bank of New York Mellon worth $194,097,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Bank of New York Mellon by 101.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 10,200 shares of the bank's stock worth $787,000 after purchasing an additional 5,149 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Bank of New York Mellon by 1.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 92,225 shares of the bank's stock worth $7,086,000 after purchasing an additional 1,622 shares during the period. Fidelis Capital Partners LLC lifted its holdings in Bank of New York Mellon by 9.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 3,693 shares of the bank's stock valued at $315,000 after buying an additional 316 shares in the last quarter. LGT Fund Management Co Ltd. lifted its holdings in Bank of New York Mellon by 2.6% during the 4th quarter. LGT Fund Management Co Ltd. now owns 34,554 shares of the bank's stock valued at $2,655,000 after buying an additional 891 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $184,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BK shares. Barclays lifted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, November 25th. Wolfe Research lowered shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, Truist Financial boosted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.71.

Bank of New York Mellon Stock Up 1.2 %

Shares of NYSE BK traded up $1.07 during trading hours on Wednesday, hitting $86.61. 4,391,040 shares of the stock were exchanged, compared to its average volume of 4,236,373. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market cap of $62.04 billion, a PE ratio of 14.91, a PEG ratio of 0.97 and a beta of 1.06. The firm has a fifty day moving average price of $83.56 and a 200-day moving average price of $77.67. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released 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. The company 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%. Bank of New York Mellon's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is currently 32.36%.

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.