Mraz Amerine & Associates Inc. Cuts Position in The Bank of New York Mellon Co. (NYSE:BK)

Mraz Amerine & Associates Inc. trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 18.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,402 shares of the bank’s stock after selling 5,665 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Bank of New York Mellon were worth $1,270,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BK. Acadian Asset Management LLC boosted its holdings in Bank of New York Mellon by 160.0% in the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after purchasing an additional 3,297 shares in the last quarter. Prudential PLC acquired a new position in Bank of New York Mellon in the first quarter valued at approximately $1,096,000. Cetera Investment Advisers boosted its holdings in Bank of New York Mellon by 3.3% in the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after purchasing an additional 1,154 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Bank of New York Mellon by 54.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after purchasing an additional 81,728 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in Bank of New York Mellon by 165.3% in the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after purchasing an additional 909 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BK. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Citigroup increased their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Bank of America increased their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Evercore ISI increased their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.17.

Bank of New York Mellon Stock Up 0.9 %

Shares of NYSE:BK traded up $0.47 during mid-day trading on Wednesday, hitting $54.47. 4,513,897 shares of the company traded hands, compared to its average volume of 4,027,140. The firm has a market cap of $41.01 billion, a P/E ratio of 13.72, a PEG ratio of 1.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The firm’s 50 day simple moving average is $55.75 and its 200 day simple moving average is $51.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the business earned $1.13 EPS. Bank of New York Mellon’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.08%. Bank of New York Mellon’s dividend payout ratio (DPR) is 42.32%.

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.