Motco Purchases 334 Shares of Bank of New York Mellon Corp (NYSE:BK)

Motco lifted its position in Bank of New York Mellon Corp (NYSE:BK) by 79.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 753 shares of the bank’s stock after acquiring an additional 334 shares during the period. Motco’s holdings in Bank of New York Mellon were worth $38,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. DNB Asset Management AS grew its holdings in Bank of New York Mellon by 7.5% during the 3rd quarter. DNB Asset Management AS now owns 94,584 shares of the bank’s stock valued at $4,276,000 after buying an additional 6,585 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Bank of New York Mellon by 8.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,288 shares of the bank’s stock worth $2,409,000 after buying an additional 4,268 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Bank of New York Mellon by 4.3% in the third quarter. Assenagon Asset Management S.A. now owns 24,360 shares of the bank’s stock valued at $1,101,000 after acquiring an additional 1,000 shares during the period. Signaturefd LLC boosted its position in shares of Bank of New York Mellon by 8.1% in the third quarter. Signaturefd LLC now owns 4,553 shares of the bank’s stock valued at $206,000 after acquiring an additional 341 shares during the period. Finally, Advisor Partners LLC grew its stake in Bank of New York Mellon by 3.3% during the third quarter. Advisor Partners LLC now owns 26,031 shares of the bank’s stock valued at $1,177,000 after acquiring an additional 842 shares in the last quarter. 82.02% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:BK opened at $45.90 on Friday. The company’s fifty day moving average price is $48.00 and its 200-day moving average price is $46.69. The firm has a market capitalization of $42.45 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.45 and a beta of 1.11. Bank of New York Mellon Corp has a one year low of $40.52 and a one year high of $54.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, January 16th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Bank of New York Mellon had a net margin of 21.39% and a return on equity of 10.49%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same period in the previous year, the firm posted $0.99 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that Bank of New York Mellon Corp will post 4.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.24 dividend on an annualized basis and a yield of 2.70%. Bank of New York Mellon’s dividend payout ratio is presently 30.85%.

A number of research firms recently weighed in on BK. Deutsche Bank decreased their target price on shares of Bank of New York Mellon from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Morgan Stanley cut their price target on shares of Bank of New York Mellon from $54.00 to $51.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Wolfe Research upgraded shares of Bank of New York Mellon from a “peer perform” rating to an “outperform” rating in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $52.00 price target on shares of Bank of New York Mellon in a report on Monday, January 20th. Finally, Citigroup raised shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $55.00 to $53.00 in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $51.50.

Bank of New York Mellon Company Profile

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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