Cullen Frost Bankers Inc. reduced its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,776 shares of the bank’s stock after selling 7,651 shares during the period. Cullen Frost Bankers Inc.’s holdings in Bank of New York Mellon were worth $5,424,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BK. Howard Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $28,000. NuWave Investment Management LLC raised its holdings in shares of Bank of New York Mellon by 791.0% in the 4th quarter. NuWave Investment Management LLC now owns 695 shares of the bank’s stock worth $35,000 after purchasing an additional 617 shares in the last quarter. Smith Asset Management Group LP bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $37,000. Rational Advisors LLC lifted its stake in Bank of New York Mellon by 974.4% during the fourth quarter. Rational Advisors LLC now owns 838 shares of the bank’s stock valued at $42,000 after purchasing an additional 760 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Bank of New York Mellon during the third quarter valued at approximately $39,000. 82.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BK opened at $46.03 on Friday. The company has a 50-day moving average of $48.00 and a two-hundred day moving average of $46.69. The stock has a market cap of $42.94 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 1.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.70 and a quick ratio of 0.70. Bank of New York Mellon Corp has a one year low of $40.52 and a one year high of $54.27.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, January 16th. The bank reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.02. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.17 billion. Bank of New York Mellon had a net margin of 21.39% and a return on equity of 10.49%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. Analysts anticipate that Bank of New York Mellon Corp will post 4.14 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, January 24th. Bank of New York Mellon’s dividend payout ratio is 30.85%.

A number of analysts recently weighed in on the stock. Royal Bank of Canada restated a “hold” rating and set a $52.00 target price on shares of Bank of New York Mellon in a report on Monday, January 20th. Standpoint Research assumed coverage on Bank of New York Mellon in a research report on Monday, December 23rd. They set an “accumulate” rating for the company. UBS Group increased their price objective on Bank of New York Mellon from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Evercore ISI reissued a “sell” rating and set a $49.00 price objective on shares of Bank of New York Mellon in a research note on Monday, January 20th. Finally, ValuEngine upgraded Bank of New York Mellon from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $51.50.

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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