Teacher Retirement System of Texas Sells 142,507 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Teacher Retirement System of Texas cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 19.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,374 shares of the bank’s stock after selling 142,507 shares during the quarter. Teacher Retirement System of Texas’ holdings in Bank of New York Mellon were worth $44,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $39,000. TCTC Holdings LLC boosted its holdings in Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after acquiring an additional 430 shares during the period. Modus Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $49,000. Friedenthal Financial purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $56,000. Finally, Asset Dedication LLC boosted its holdings in Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after acquiring an additional 585 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BK has been the subject of several research analyst reports. UBS Group increased their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday. Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley increased their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Bank of New York Mellon Stock Up 0.0 %

BK stock opened at $83.91 on Friday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $60.24 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The business has a 50 day moving average of $84.72 and a 200 day moving average of $78.83.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.