Cetera Advisor Networks LLC lowered its stake in Bank of New York Mellon Corp (NYSE:BK) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,770 shares of the bank’s stock after selling 5,470 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Bank of New York Mellon were worth $2,623,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BK. Invictus RG purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $102,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $124,000. Horan Capital Advisors LLC. purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $139,000. Advisory Services Network LLC raised its position in shares of Bank of New York Mellon by 15.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after buying an additional 363 shares in the last quarter. Finally, Sawyer & Company Inc purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $164,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Bank of New York Mellon Corp (NYSE:BK) opened at $55.98 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69. The company has a market cap of $55,546.75, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.74 and a beta of 1.21. Bank of New York Mellon Corp has a one year low of $45.12 and a one year high of $58.99.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.91. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. sell-side analysts anticipate that Bank of New York Mellon Corp will post 4.05 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Tuesday, January 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.71%. Bank of New York Mellon’s dividend payout ratio is currently 25.74%.

Several brokerages have recently issued reports on BK. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Vining Sparks restated a “hold” rating and set a $60.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 24th. Barclays reissued a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. JPMorgan Chase & Co. lowered shares of Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price objective on the stock. in a research report on Friday, January 19th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.76.

In other Bank of New York Mellon news, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $54.15, for a total value of $2,065,930.80. Following the transaction, the chief financial officer now directly owns 310,002 shares in the company, valued at approximately $16,786,608.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward P. Garden sold 143,792 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total transaction of $7,551,955.84. The disclosure for this sale can be found here. Insiders sold a total of 831,944 shares of company stock worth $43,807,887 over the last 90 days. Insiders own 3.60% of the company’s stock.

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About Bank of New York Mellon

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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