Resona Asset Management Co. Ltd. Sells 13,264 Shares of The Bank of New York Mellon Corporation $BK

Resona Asset Management Co. Ltd. trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,109 shares of the bank’s stock after selling 13,264 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $25,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. grew its holdings in Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after acquiring an additional 96 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in shares of Bank of New York Mellon by 1.9% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after purchasing an additional 98 shares during the period. Tiemann Investment Advisors LLC grew its stake in shares of Bank of New York Mellon by 2.9% in the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after purchasing an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Bank of New York Mellon by 13.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after purchasing an additional 100 shares during the period. Finally, Hemington Wealth Management raised its position in Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after purchasing an additional 102 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.1%

Shares of BK stock opened at $117.71 on Friday. The company has a market cap of $82.09 billion, a P/E ratio of 15.89, a PEG ratio of 1.10 and a beta of 1.11. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $125.89. The stock has a 50 day simple moving average of $115.93 and a two-hundred day simple moving average of $108.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion during the quarter. Research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Evercore ISI upped their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Royal Bank Of Canada boosted their price target on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.