Virtu Financial LLC Cuts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Virtu Financial LLC cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,008 shares of the bank’s stock after selling 1,649 shares during the period. Virtu Financial LLC’s holdings in Bank of New York Mellon were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BK. Sciencast Management LP boosted its position in shares of Bank of New York Mellon by 1.2% in the 4th quarter. Sciencast Management LP now owns 39,541 shares of the bank’s stock worth $3,038,000 after buying an additional 468 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $65,000. 1620 Investment Advisors Inc. bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $93,000. Lee Danner & Bass Inc. acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $90,000. Finally, HUB Investment Partners LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at $238,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK opened at $85.07 on Thursday. The stock has a market cap of $61.08 billion, a PE ratio of 14.64, a P/E/G ratio of 0.97 and a beta of 1.06. The stock’s 50 day simple moving average is $85.31 and its 200-day simple moving average is $79.39. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

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

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analysts Set New Price Targets

BK has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price 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 report on Monday, March 3rd. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Citigroup raised their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America boosted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Barclays lifted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.71.

Bank of New York Mellon Company 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.