State of Tennessee Treasury Department increased its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 271.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 791,577 shares of the bank’s stock after purchasing an additional 578,686 shares during the quarter. State of Tennessee Treasury Department’s holdings in Bank of New York Mellon were worth $39,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BK. DNB Asset Management AS lifted its holdings in Bank of New York Mellon by 7.5% during the 3rd quarter. DNB Asset Management AS now owns 94,584 shares of the bank’s stock worth $4,276,000 after purchasing an additional 6,585 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Bank of New York Mellon by 8.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,288 shares of the bank’s stock valued at $2,409,000 after acquiring an additional 4,268 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Bank of New York Mellon by 4.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 24,360 shares of the bank’s stock valued at $1,101,000 after acquiring an additional 1,000 shares in the last quarter. Signaturefd LLC raised its holdings in Bank of New York Mellon by 8.1% in the 3rd quarter. Signaturefd LLC now owns 4,553 shares of the bank’s stock valued at $206,000 after acquiring an additional 341 shares in the last quarter. Finally, Advisor Partners LLC raised its holdings in Bank of New York Mellon by 3.3% in the 3rd quarter. Advisor Partners LLC now owns 26,031 shares of the bank’s stock valued at $1,177,000 after acquiring an additional 842 shares in the last quarter. 82.02% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on BK shares. Standpoint Research started coverage on Bank of New York Mellon in a report on Monday, December 23rd. They issued an “accumulate” rating for the company. Citigroup raised Bank of New York Mellon from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $55.00 to $53.00 in a report on Tuesday, January 21st. UBS Group boosted their price target on Bank of New York Mellon from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Morgan Stanley lowered their price target on Bank of New York Mellon from $54.00 to $51.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, Credit Suisse Group raised Bank of New York Mellon from a “neutral” rating to an “outperform” rating and set a $54.00 price target for the company in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Bank of New York Mellon has a consensus rating of “Hold” and a consensus target price of $51.50.

Shares of Bank of New York Mellon stock traded down $0.13 during trading on Friday, reaching $45.90. 214,075 shares of the company’s stock were exchanged, compared to its average volume of 5,353,818. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 0.70. Bank of New York Mellon Corp has a 1-year low of $40.52 and a 1-year high of $54.27. The company has a market cap of $42.94 billion, a P/E ratio of 10.11, a PEG ratio of 1.36 and a beta of 1.11. The firm’s 50-day moving average price is $48.00 and its 200 day moving average price is $46.69.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Thursday, January 16th. The bank reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Bank of New York Mellon had a return on equity of 10.49% and a net margin of 21.39%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Bank of New York Mellon’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that Bank of New York Mellon Corp will post 4.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.24 dividend on an annualized basis and a yield of 2.70%. Bank of New York Mellon’s dividend payout ratio is currently 30.85%.

Bank of New York Mellon Profile

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.

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

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