Davis Selected Advisers Has $110.12 Million Holdings in The Bank of New York Mellon Corporation $BK

Davis Selected Advisers trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 46.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,010,681 shares of the bank’s stock after selling 887,749 shares during the period. Davis Selected Advisers owned 0.14% of Bank of New York Mellon worth $110,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new stake in Bank of New York Mellon in the third quarter valued at $33,000. Caldwell Trust Co bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $36,000. Westside Investment Management Inc. increased its stake in shares of Bank of New York Mellon by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares during the last quarter. Dunhill Financial LLC increased its stake in shares of Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares during the last quarter. Finally, Community Bank N.A. raised its holdings in shares of Bank of New York Mellon by 250.4% in the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock valued at $48,000 after purchasing an additional 313 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Down 1.3%

Shares of BK opened at $114.61 on Thursday. The firm has a market cap of $78.88 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $128.76. The firm’s 50-day simple moving average is $119.32 and its 200 day simple moving average is $113.42.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion during the quarter. On average, analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Wall Street Analyst Weigh In

BK has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Citigroup initiated coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Finally, TD Cowen boosted their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.