The Bank of New York Mellon Corporation (NYSE:BK) Short Interest Down 20.1% in January

The Bank of New York Mellon Corporation (NYSE:BK) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 7,019,921 shares, a decrease of 20.1% from the December 31st total of 8,780,925 shares. Based on an average daily volume of 4,240,034 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.0% of the shares of the stock are sold short. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 4,240,034 shares, the days-to-cover ratio is currently 1.7 days.

Bank of New York Mellon Stock Down 1.4%

Shares of BK stock traded down $1.65 during trading hours on Friday, hitting $119.84. 3,059,274 shares of the company were exchanged, compared to its average volume of 3,793,089. The stock has a market capitalization of $83.57 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.13 and a beta of 1.11. The business’s 50-day simple moving average is $117.20 and its two-hundred day simple moving average is $109.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. Bank of New York Mellon has a one year low of $70.46 and a one year high of $125.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion for the quarter. Sell-side analysts predict that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BK. Royal Bank Of Canada upped their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Citigroup boosted their price target on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Barclays lifted their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Institutional Trading of Bank of New York Mellon

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ransom Advisory Ltd boosted its holdings in shares of Bank of New York Mellon by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after acquiring an additional 85 shares in the last quarter. Mather Group LLC. raised its position in shares of Bank of New York Mellon by 0.9% during the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock worth $1,072,000 after purchasing an additional 86 shares during the period. Valeo Financial Advisors LLC lifted its stake in Bank of New York Mellon by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after buying an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in Bank of New York Mellon by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after purchasing an additional 96 shares during the period. Finally, Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in shares of Bank of New York Mellon by 1.9% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after buying an additional 98 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.