Brandywine Global Investment Management LLC Decreases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Brandywine Global Investment Management LLC trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.1% during the fourth quarter, Holdings Channel reports. The fund owned 435,267 shares of the bank’s stock after selling 33,513 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Bank of New York Mellon were worth $33,442,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on BK shares. Wells Fargo & Company upped their target price on shares of 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. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $82.67 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market cap of $59.35 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The firm’s 50 day simple moving average is $85.34 and its 200-day simple moving average is $79.61.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for 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 period in the previous year, the business earned $1.28 EPS. As a group, equities research analysts predict 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.