Heartland Advisors Inc. cut its stake in shares of Bank of New York Mellon Corp (NYSE:BK) by 2.8% in the third quarter, HoldingsChannel.com reports. The fund owned 108,631 shares of the bank’s stock after selling 3,112 shares during the period. Heartland Advisors Inc.’s holdings in Bank of New York Mellon were worth $5,539,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC raised its position in shares of Bank of New York Mellon by 123.2% in the second quarter. FMR LLC now owns 18,383,793 shares of the bank’s stock valued at $991,438,000 after buying an additional 10,147,809 shares during the last quarter. Longview Partners Guernsey LTD raised its position in shares of Bank of New York Mellon by 0.7% in the third quarter. Longview Partners Guernsey LTD now owns 17,773,813 shares of the bank’s stock valued at $906,287,000 after buying an additional 124,800 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Bank of New York Mellon by 0.5% in the second quarter. Artisan Partners Limited Partnership now owns 13,668,727 shares of the bank’s stock valued at $737,154,000 after buying an additional 63,107 shares during the last quarter. Morgan Stanley raised its position in shares of Bank of New York Mellon by 66.0% in the second quarter. Morgan Stanley now owns 8,460,980 shares of the bank’s stock valued at $456,300,000 after buying an additional 3,363,091 shares during the last quarter. Finally, Vulcan Value Partners LLC raised its position in shares of Bank of New York Mellon by 13.2% in the second quarter. Vulcan Value Partners LLC now owns 7,871,202 shares of the bank’s stock valued at $424,494,000 after buying an additional 918,540 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Shares of BK opened at $50.12 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. Bank of New York Mellon Corp has a 12-month low of $45.16 and a 12-month high of $58.99. The stock has a market capitalization of $48.84 billion, a P/E ratio of 13.92, a PEG ratio of 1.53 and a beta of 1.04.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, October 18th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. Bank of New York Mellon had a net margin of 24.92% and a return on equity of 11.48%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Bank of New York Mellon’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Bank of New York Mellon Corp will post 4.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Tuesday, October 30th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Monday, October 29th. Bank of New York Mellon’s dividend payout ratio is currently 31.11%.

A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Tuesday. Vining Sparks reiterated a “buy” rating and issued a $62.00 target price on shares of Bank of New York Mellon in a research report on Monday, July 23rd. Deutsche Bank dropped their price objective on shares of Bank of New York Mellon from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday. Wolfe Research began coverage on shares of Bank of New York Mellon in a report on Tuesday, September 25th. They issued an “underperform” rating for the company. Finally, Zacks Investment Research lowered shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Bank of New York Mellon has a consensus rating of “Hold” and an average price target of $57.77.

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About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

Further Reading: Asset Allocation, Balancing Your Investments

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

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

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