Teacher Retirement System of Texas Sells 28,843 Shares of The Bank of New York Mellon Corporation $BK

Teacher Retirement System of Texas trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 10.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 235,145 shares of the bank’s stock after selling 28,843 shares during the quarter. Teacher Retirement System of Texas’ holdings in Bank of New York Mellon were worth $21,424,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BK. Cornerstone Planning Group LLC boosted its holdings in Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after acquiring an additional 196 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Bank of New York Mellon during the first quarter valued at $32,000. Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon during the second quarter valued at $32,000. Golden State Wealth Management LLC lifted its holdings in shares of Bank of New York Mellon by 226.4% during the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after purchasing an additional 283 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Bank of New York Mellon during the first quarter valued at $34,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 0.9%

BK stock opened at $108.59 on Wednesday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The business’s 50-day moving average is $106.34 and its two-hundred day moving average is $96.21. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The company has a market cap of $76.58 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The firm had revenue of $4.38 billion for the quarter. As a group, analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BK shares. The Goldman Sachs Group upped their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Evercore ISI upped their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Morgan Stanley upped their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Citigroup upped their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Finally, Wells Fargo & Company upped their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.29.

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.