Cleararc Capital Inc. lowered its position in Bank of New York Mellon Corp (NYSE:BK) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,787 shares of the bank’s stock after selling 2,055 shares during the period. Cleararc Capital Inc.’s holdings in Bank of New York Mellon were worth $1,213,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Country Trust Bank grew its position in Bank of New York Mellon by 10.9% during the second quarter. Country Trust Bank now owns 582,489 shares of the bank’s stock valued at $31,414,000 after buying an additional 57,346 shares during the period. Natixis grew its position in Bank of New York Mellon by 32.0% during the second quarter. Natixis now owns 896,438 shares of the bank’s stock valued at $48,345,000 after buying an additional 217,260 shares during the period. Ronna Sue Cohen grew its position in Bank of New York Mellon by 924.7% during the third quarter. Ronna Sue Cohen now owns 41,398 shares of the bank’s stock valued at $2,111,000 after buying an additional 37,358 shares during the period. Spinnaker Trust bought a new position in Bank of New York Mellon during the third quarter valued at about $262,000. Finally, First Fiduciary Investment Counsel Inc. grew its position in Bank of New York Mellon by 3.1% during the third quarter. First Fiduciary Investment Counsel Inc. now owns 442,392 shares of the bank’s stock valued at $22,558,000 after buying an additional 13,155 shares during the period. Institutional investors own 84.06% of the company’s stock.

Shares of NYSE:BK opened at $47.84 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $48.15 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. Bank of New York Mellon Corp has a twelve month low of $45.16 and a twelve month high of $58.99.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, October 18th. The bank reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.15 billion. Bank of New York Mellon had a net margin of 24.92% and a return on equity of 11.48%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. Analysts predict that Bank of New York Mellon Corp will post 4.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Tuesday, October 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, October 29th. This represents a $1.12 dividend on an annualized basis and a yield of 2.34%. Bank of New York Mellon’s dividend payout ratio is presently 31.11%.

Several research firms recently weighed in on BK. ValuEngine upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Deutsche Bank reduced their price target on shares of Bank of New York Mellon from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Citigroup reduced their price target on shares of Bank of New York Mellon from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Keefe, Bruyette & Woods lowered shares of Bank of New York Mellon from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $55.00 to $49.00 in a research report on Friday, October 19th. Finally, Vining Sparks restated a “buy” rating and set a $62.00 price target on shares of Bank of New York Mellon in a research report on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $57.77.

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About Bank of New York Mellon

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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