New Mexico Educational Retirement Board Sells 2,500 Shares of Bank of New York Mellon Corp (BK)

New Mexico Educational Retirement Board reduced its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 3.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,860 shares of the bank’s stock after selling 2,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Bank of New York Mellon were worth $3,826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BK. Lavaca Capital LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $27,000. Sontag Advisory LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $33,000. Valley National Advisers Inc. grew its position in shares of Bank of New York Mellon by 76.5% in the 4th quarter. Valley National Advisers Inc. now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 309 shares during the last quarter. Berman Capital Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $33,000. Finally, Essex Savings Bank bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $35,000. Institutional investors own 87.67% of the company’s stock.

BK has been the topic of a number of analyst reports. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $52.00 in a research report on Wednesday, January 9th. Zacks Investment Research downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Vining Sparks reissued a “buy” rating and issued a $55.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 23rd. Deutsche Bank boosted their price objective on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, ValuEngine downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $53.75.

In other Bank of New York Mellon news, VP Bridget E. Engle sold 22,670 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $52.99, for a total transaction of $1,201,283.30. Following the completion of the transaction, the vice president now directly owns 92,150 shares of the company’s stock, valued at $4,883,028.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,797 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.00, for a total value of $307,241.00. Following the transaction, the insider now directly owns 18,483 shares of the company’s stock, valued at $979,599. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 853,244 shares of company stock valued at $43,210,239. 1.71% of the stock is currently owned by corporate insiders.

Shares of Bank of New York Mellon stock traded down $0.27 on Thursday, hitting $47.78. The company had a trading volume of 3,025,331 shares, compared to its average volume of 4,931,246. The company has a market cap of $45.88 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. Bank of New York Mellon Corp has a 1 year low of $43.67 and a 1 year high of $58.22. The company has a quick ratio of 0.70, a current ratio of 0.68 and a debt-to-equity ratio of 0.84.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $0.94 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.02). The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, research analysts anticipate that Bank of New York Mellon Corp will post 4.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Monday, April 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, April 26th. Bank of New York Mellon’s dividend payout ratio is presently 26.60%.

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Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

Further Reading: Leveraged Buyout (LBO)

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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