Westpac Banking Corp Has $5.59 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Westpac Banking Corp lessened its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,815 shares of the bank's stock after selling 5,744 shares during the quarter. Westpac Banking Corp's holdings in Bank of New York Mellon were worth $5,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BK. D.A. Davidson & CO. lifted its stake in shares of Bank of New York Mellon by 3.3% during the third quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank's stock valued at $525,000 after acquiring an additional 231 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Bank of New York Mellon by 0.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank's stock worth $2,118,000 after purchasing an additional 250 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Bank of New York Mellon by 583.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank's stock valued at $741,000 after purchasing an additional 8,797 shares during the period. Ascent Group LLC boosted its stake in shares of Bank of New York Mellon by 81.3% in the 3rd quarter. Ascent Group LLC now owns 12,666 shares of the bank's stock valued at $910,000 after purchasing an additional 5,680 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $1,786,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 2.1 %

BK traded up $1.54 during trading on Tuesday, reaching $75.63. The company had a trading volume of 1,562,427 shares, compared to its average volume of 3,931,281. The business's fifty day moving average price is $84.74 and its 200 day moving average price is $80.10. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. 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 has a market cap of $54.30 billion, a P/E ratio of 13.03, a PEG ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping 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 analyst estimates of $4.66 billion. During the same period in the prior year, the business earned $1.28 EPS. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.49%. 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%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average price target of $89.86.

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.