The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Decreased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,666 shares of the bank’s stock after selling 546 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Bank of New York Mellon were worth $6,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $30,000. Able Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon during the 1st quarter worth $32,000. Clearstead Trust LLC bought a new stake in Bank of New York Mellon during the second quarter valued at about $32,000. Finally, Family Firm Inc. bought a new position in Bank of New York Mellon in the 2nd quarter worth approximately $40,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.1 %

NYSE BK opened at $71.82 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $71.96. The company has a market capitalization of $53.71 billion, a PE ratio of 16.63, a P/E/G ratio of 1.17 and a beta of 1.08. The stock has a 50-day simple moving average of $65.98 and a 200 day simple moving average of $60.68.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Research analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.62%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Citigroup increased their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.59.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

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.