Teacher Retirement System of Texas Cuts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Teacher Retirement System of Texas lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 585,374 shares of the bank’s stock after selling 142,507 shares during the period. Teacher Retirement System of Texas owned about 0.08% of Bank of New York Mellon worth $44,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Empowered Funds LLC lifted its position in shares of Bank of New York Mellon by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 13,760 shares of the bank’s stock valued at $989,000 after buying an additional 1,162 shares during the last quarter. Prospera Financial Services Inc lifted its position in shares of Bank of New York Mellon by 11.4% during the 3rd quarter. Prospera Financial Services Inc now owns 5,294 shares of the bank’s stock valued at $381,000 after buying an additional 542 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $3,997,000. Segall Bryant & Hamill LLC purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $1,909,000. Finally, Commerce Bank lifted its position in shares of Bank of New York Mellon by 1.2% during the 3rd quarter. Commerce Bank now owns 29,995 shares of the bank’s stock valued at $2,155,000 after buying an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $83.91 on Friday. The firm has a market capitalization of $60.24 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.97 and a beta of 1.06. 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 stock’s 50-day simple moving average is $84.72 and its two-hundred day simple moving average is $78.83. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for 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 revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Ratings Changes

A number of brokerages have recently commented on BK. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. 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. Truist Financial increased their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. 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. Finally, StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

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.