South Dakota Investment Council Cuts Stake in The Bank of New York Mellon Co. (NYSE:BK)

South Dakota Investment Council trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 592,032 shares of the bank’s stock after selling 5,540 shares during the quarter. Bank of New York Mellon comprises about 0.6% of South Dakota Investment Council’s holdings, making the stock its 28th biggest holding. South Dakota Investment Council owned 0.07% of Bank of New York Mellon worth $34,385,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BK. BOKF NA purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $1,821,000. Handelsbanken Fonder AB boosted its holdings in shares of Bank of New York Mellon by 7.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 217,599 shares of the bank’s stock valued at $11,280,000 after acquiring an additional 15,254 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Bank of New York Mellon by 3.8% during the 4th quarter. M&T Bank Corp now owns 141,742 shares of the bank’s stock valued at $8,232,000 after acquiring an additional 5,174 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Bank of New York Mellon by 37.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 220,286 shares of the bank’s stock valued at $11,420,000 after acquiring an additional 60,098 shares during the last quarter. Finally, Northwest Investment Counselors LLC boosted its holdings in shares of Bank of New York Mellon by 5.0% during the 4th quarter. Northwest Investment Counselors LLC now owns 60,864 shares of the bank’s stock valued at $3,535,000 after acquiring an additional 2,897 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on BK. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating and set a $55.00 price target on the stock. in a report on Thursday, March 31st. Zacks Investment Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Monday, January 10th. Credit Suisse Group lowered their price objective on shares of Bank of New York Mellon from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, March 21st. Barclays lowered their price objective on shares of Bank of New York Mellon from $74.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 19th. Finally, The Goldman Sachs Group lowered their price objective on shares of Bank of New York Mellon from $60.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 19th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Hold” and a consensus target price of $57.86.

NYSE BK traded down $1.40 on Friday, reaching $42.06. 4,450,426 shares of the stock were exchanged, compared to its average volume of 5,006,601. The firm has a market capitalization of $33.95 billion, a PE ratio of 10.41, a PEG ratio of 1.57 and a beta of 1.12. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $41.96 and a one year high of $64.63. The company’s 50-day simple moving average is $49.65 and its two-hundred day simple moving average is $55.80.

Bank of New York Mellon (NYSE:BK – Get Rating) last released its quarterly earnings data on Monday, April 18th. The bank reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.01. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 9.33%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 4.49 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 11th. Stockholders of record on Thursday, April 28th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Wednesday, April 27th. Bank of New York Mellon’s payout ratio is currently 33.66%.

Bank of New York Mellon Profile (Get Rating)

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, prime brokerage, and data analytics.

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