TIAA Trust National Association Boosts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

TIAA Trust National Association grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,457 shares of the bank’s stock after buying an additional 1,099 shares during the period. TIAA Trust National Association’s holdings in Bank of New York Mellon were worth $1,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cape Investment Advisory Inc. boosted its holdings in Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after acquiring an additional 131 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Bank of New York Mellon by 0.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after purchasing an additional 135 shares during the period. Valeo Financial Advisors LLC increased its position in Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after purchasing an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC raised its holdings in Bank of New York Mellon by 2.9% in the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after buying an additional 142 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 0.2 %

Shares of NYSE:BK opened at $85.07 on Thursday. The firm has a market cap of $61.08 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a fifty day simple moving average of $85.31 and a 200 day simple moving average of $79.39. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 EPS. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced 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 2.21%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BK. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $89.71.

About Bank of New York Mellon

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.