Gamco Investors INC. ET AL Sells 136,804 Shares of The Bank of New York Mellon Corporation $BK

Gamco Investors INC. ET AL trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,306,010 shares of the bank’s stock after selling 136,804 shares during the quarter. Bank of New York Mellon accounts for approximately 1.4% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 6th biggest holding. Gamco Investors INC. ET AL’s holdings in Bank of New York Mellon were worth $142,303,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $33,000. Caldwell Trust Co acquired a new stake in Bank of New York Mellon in the second quarter worth $36,000. Westside Investment Management Inc. grew its holdings in Bank of New York Mellon by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares during the period. Dunhill Financial LLC increased its stake in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after purchasing an additional 242 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $52,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $115.22 on Friday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $128.76. The company’s 50 day moving average price is $119.69 and its two-hundred day moving average price is $112.66. The stock has a market cap of $79.15 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.09 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

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

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was 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 (DPR) is currently 28.61%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BK. Citigroup began coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Barclays boosted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. TD Cowen increased their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Finally, Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Eight equities 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 has an average rating of “Moderate Buy” and an average price target of $131.92.

About Bank of New York Mellon

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.