Bank of New York Mellon Corp (BK) Holdings Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in shares of Bank of New York Mellon Corp (NYSE:BK) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,879 shares of the bank’s stock after selling 11,272 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Bank of New York Mellon were worth $6,062,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Country Trust Bank increased its stake in Bank of New York Mellon by 10.9% during the 2nd quarter. Country Trust Bank now owns 582,489 shares of the bank’s stock valued at $31,414,000 after purchasing an additional 57,346 shares in the last quarter. Natixis increased its stake in shares of Bank of New York Mellon by 32.0% in the second quarter. Natixis now owns 896,438 shares of the bank’s stock worth $48,345,000 after acquiring an additional 217,260 shares during the period. Ronna Sue Cohen increased its stake in shares of Bank of New York Mellon by 924.7% in the third quarter. Ronna Sue Cohen now owns 41,398 shares of the bank’s stock worth $2,111,000 after acquiring an additional 37,358 shares during the period. Spinnaker Trust acquired a new stake in shares of Bank of New York Mellon in the third quarter worth $262,000. Finally, First Fiduciary Investment Counsel Inc. increased its stake in shares of Bank of New York Mellon by 3.1% in the third quarter. First Fiduciary Investment Counsel Inc. now owns 442,392 shares of the bank’s stock worth $22,558,000 after acquiring an additional 13,155 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.

A number of analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Bank of New York Mellon in a research note on Tuesday, September 25th. They issued an “underperform” rating on the stock. Zacks Investment Research lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Vining Sparks reiterated a “buy” rating and issued a $62.00 price objective on shares of Bank of New York Mellon in a research note on Tuesday, October 9th. Deutsche Bank increased their price objective on shares of Bank of New York Mellon from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Finally, ValuEngine upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Tuesday, November 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $57.77.

Shares of NYSE BK opened at $47.84 on Friday. Bank of New York Mellon Corp has a 1 year low of $45.16 and a 1 year high of $58.99. The firm has a market cap of $48.15 billion, a P/E ratio of 13.29, a PEG ratio of 1.51 and a beta of 1.04. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $1.06 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts anticipate that Bank of New York Mellon Corp will post 4.17 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Tuesday, October 30th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Monday, October 29th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 31.11%.

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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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