Addison Capital Co Sells 1,004 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Addison Capital Co decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,627 shares of the bank’s stock after selling 1,004 shares during the period. Addison Capital Co’s holdings in Bank of New York Mellon were worth $663,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares during the period. Wellington Management Group LLP raised its holdings in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. bought a new position in Bank of New York Mellon during the 4th quarter worth about $90,955,000. Zacks Investment Management purchased a new position in Bank of New York Mellon during the 3rd quarter valued at about $62,589,000. Finally, State Street Corp raised its holdings in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 2.8 %

Shares of Bank of New York Mellon stock opened at $81.87 on Monday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The firm’s 50 day simple moving average is $84.30 and its two-hundred day simple moving average is $78.55. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $58.78 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company 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 firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. Analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays raised their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.71.

About Bank of New York Mellon

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.