The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,500 shares of the bank’s stock after selling 1,000 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Bank of New York Mellon were worth $389,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Bank of New York Mellon by 0.8% in the second quarter. Vanguard Group Inc. now owns 69,732,438 shares of the bank’s stock valued at $3,572,393,000 after purchasing an additional 578,136 shares during the last quarter. Dodge & Cox grew its position in Bank of New York Mellon by 0.4% in the 2nd quarter. Dodge & Cox now owns 61,749,322 shares of the bank’s stock valued at $3,163,418,000 after buying an additional 251,485 shares during the last quarter. BlackRock Inc. grew its position in Bank of New York Mellon by 1.7% in the 3rd quarter. BlackRock Inc. now owns 58,293,459 shares of the bank’s stock valued at $3,021,932,000 after buying an additional 957,284 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Bank of New York Mellon by 3.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 20,452,480 shares of the bank’s stock valued at $1,047,781,000 after buying an additional 657,235 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Bank of New York Mellon by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 12,910,747 shares of the bank’s stock valued at $659,363,000 after buying an additional 55,055 shares during the last quarter. 83.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BK traded down $0.49 during mid-day trading on Friday, reaching $63.16. 65,313 shares of the company traded hands, compared to its average volume of 3,860,459. The stock has a market cap of $52.16 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.28 and a beta of 1.17. The company’s fifty day moving average is $58.39 and its two-hundred day moving average is $55.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68. The Bank of New York Mellon Co. has a fifty-two week low of $39.46 and a fifty-two week high of $64.53.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Monday, October 18th. The bank reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.03. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Bank of New York Mellon had a return on equity of 9.37% and a net margin of 22.75%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 4.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Monday, November 1st were paid a dividend of $0.34 per share. The ex-dividend date was Friday, October 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.15%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 34.61%.

A number of research firms have commented on BK. Zacks Investment Research raised Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Monday. Keefe, Bruyette & Woods downgraded Bank of New York Mellon from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $66.00 to $70.00 in a research note on Tuesday. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, October 25th. Barclays lifted their price target on Bank of New York Mellon from $62.00 to $74.00 in a research note on Monday, January 3rd. Finally, Citigroup lifted their price target on Bank of New York Mellon from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $61.13.

Bank of New York Mellon Profile

The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Investment Services and Investment and Wealth Management. The Investment Services and Investment segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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