The Bank of New York Mellon Corporation $BK Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,498 shares of the bank’s stock after selling 8,409 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bank of New York Mellon were worth $34,486,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd boosted its holdings in shares of Bank of New York Mellon by 12.6% in the third quarter. UniSuper Management Pty Ltd now owns 60,750 shares of the bank’s stock valued at $6,619,000 after acquiring an additional 6,814 shares during the period. Westfuller Advisors LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter worth $668,000. Teacher Retirement System of Texas grew its position in Bank of New York Mellon by 7.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 251,824 shares of the bank’s stock worth $27,439,000 after purchasing an additional 16,679 shares during the last quarter. iA Global Asset Management Inc. increased its stake in Bank of New York Mellon by 13.6% in the third quarter. iA Global Asset Management Inc. now owns 36,040 shares of the bank’s stock valued at $3,927,000 after purchasing an additional 4,324 shares during the period. Finally, New Wave Wealth Advisors LLC increased its stake in Bank of New York Mellon by 5.0% in the third quarter. New Wave Wealth Advisors LLC now owns 7,556 shares of the bank’s stock valued at $823,000 after purchasing an additional 357 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $117.71 on Monday. The firm’s fifty day simple moving average is $115.93 and its 200-day simple moving average is $108.70. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market cap of $82.09 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.11. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $125.89.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 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 for the quarter. Analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on BK. The Goldman Sachs Group raised their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. TD Cowen upped their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $131.92.

About Bank of New York Mellon

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.