The Bank of New York Mellon Co. (NYSE:BK) is Garland Capital Management Inc.’s 3rd Largest Position

Garland Capital Management Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,140 shares of the bank’s stock after selling 1,930 shares during the period. Bank of New York Mellon accounts for about 4.9% of Garland Capital Management Inc.’s holdings, making the stock its 3rd largest holding. Garland Capital Management Inc.’s holdings in Bank of New York Mellon were worth $6,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BK. FMR LLC lifted its stake in shares of Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP lifted its position in Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $90,955,000. Zacks Investment Management bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth $62,589,000. Finally, State Street Corp raised its stake in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.6 %

Shares of NYSE:BK opened at $83.46 on Friday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The company has a market cap of $59.92 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The stock has a 50 day moving average of $84.88 and a 200 day moving average of $78.94. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.25%. Bank of New York Mellon’s payout ratio is 32.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BK shares. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup lifted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Bank of America increased their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.