Fayez Sarofim & Co Sells 50,712 Shares of The Bank of New York Mellon Corporation $BK

Fayez Sarofim & Co reduced its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,128,778 shares of the bank’s stock after selling 50,712 shares during the period. Fayez Sarofim & Co’s holdings in Bank of New York Mellon were worth $231,952,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Bank of New York Mellon by 133.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after acquiring an additional 52,412 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Bank of New York Mellon by 35.1% during the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after purchasing an additional 8,277 shares during the period. Investment Management Corp of Ontario increased its stake in shares of Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after purchasing an additional 25,842 shares during the period. First National Advisers LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $3,304,000. Finally, First Horizon Corp bought a new stake in Bank of New York Mellon in the 3rd quarter valued at $22,072,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $116.18 on Monday. The firm has a market cap of $79.96 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s fifty day moving average price is $119.65 and its two-hundred day moving average price is $113.28. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The firm 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%. As a group, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors 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 yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. New Street Research set a $143.00 price objective on Bank of New York Mellon in a report on Wednesday, January 14th. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. TD Cowen upped their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada raised 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.