The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 58.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,497 shares of the bank’s stock after selling 10,735 shares during the period. Quantitative Systematic Strategies LLC’s holdings in The Bank of New York Mellon were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. M&T Bank Corp boosted its stake in The Bank of New York Mellon by 39.6% in the second quarter. M&T Bank Corp now owns 129,773 shares of the bank’s stock valued at $5,015,000 after acquiring an additional 36,794 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of The Bank of New York Mellon during the second quarter worth $766,000. Ethic Inc. acquired a new stake in shares of The Bank of New York Mellon during the second quarter worth $421,000. Kentucky Retirement Systems acquired a new stake in shares of The Bank of New York Mellon during the second quarter worth $1,734,000. Finally, CX Institutional lifted its stake in shares of The Bank of New York Mellon by 40.3% during the third quarter. CX Institutional now owns 73,564 shares of the bank’s stock worth $2,526,000 after buying an additional 21,135 shares during the period. Institutional investors own 76.73% of the company’s stock.

Several research firms have recently commented on BK. Smith Barney Citigroup downgraded shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. Keefe, Bruyette & Woods downgraded shares of The Bank of New York Mellon from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $47.00 to $43.00 in a research note on Wednesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. Bank of America downgraded shares of The Bank of New York Mellon from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $42.00 to $39.00 in a research note on Friday. Finally, Morgan Stanley downgraded shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 10th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.56.

BK stock opened at $37.88 on Friday. The stock has a market capitalization of $33.57 billion, a P/E ratio of 8.31, a P/E/G ratio of 1.26 and a beta of 1.03. The firm has a 50-day simple moving average of $36.75 and a 200-day simple moving average of $36.69. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.65. The Bank of New York Mellon Co. has a 52 week low of $26.40 and a 52 week high of $51.60.

The Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 16th. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business posted $1.07 EPS. The Bank of New York Mellon’s revenue was down .4% on a year-over-year basis. On average, analysts expect that The Bank of New York Mellon Co. will post 3.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, October 28th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.27%. The ex-dividend date was Tuesday, October 27th. The Bank of New York Mellon’s payout ratio is currently 30.85%.

The Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. The Investment Service segment offers custody, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, trading, investment, wealth and retirement solutions, technology and enterprise data management, corporate trust, depositary receipts, payments, receivables processing and payables management, trade finance and processing, and collateral management services.

Recommended Story: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for The Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.