Calamos Advisors LLC Reduces Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Calamos Advisors LLC cut its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,400 shares of the bank’s stock after selling 3,559 shares during the quarter. Calamos Advisors LLC’s holdings in Bank of New York Mellon were worth $14,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BK. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after acquiring an additional 40,969 shares during the period. Trust Point Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $310,000. WCG Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon in the third quarter worth $1,552,000. Meeder Asset Management Inc. purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth $1,298,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Bank of New York Mellon by 22.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after buying an additional 465,229 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BK. Evercore ISI raised their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Jefferies Financial Group lifted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group boosted their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Citigroup raised their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Hold” and an average price target of $59.15.

Bank of New York Mellon Trading Up 1.6 %

Shares of BK traded up $0.91 during trading hours on Friday, hitting $56.16. The company had a trading volume of 718,814 shares, compared to its average volume of 3,974,578. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average price is $55.74 and its 200 day moving average price is $51.13. The firm has a market cap of $42.28 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.15 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.4 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.99%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

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.