The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,845 shares of the bank’s stock after selling 75,063 shares during the quarter. SVB Wealth LLC’s holdings in Bank of New York Mellon were worth $12,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Bank of New York Mellon during the fourth quarter worth about $503,489,000. Moneta Group Investment Advisors LLC boosted its stake in Bank of New York Mellon by 74,433.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after buying an additional 6,106,537 shares during the period. Barclays PLC boosted its stake in Bank of New York Mellon by 126.2% during the second quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock worth $128,462,000 after buying an additional 1,609,730 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $66,916,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Bank of New York Mellon by 142.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after purchasing an additional 951,730 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. UBS Group raised their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price on the stock in a report on Monday, December 18th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.72.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded down $0.83 during trading on Tuesday, reaching $54.26. The company’s stock had a trading volume of 1,539,065 shares, compared to its average volume of 3,927,483. The company has a 50-day moving average price of $55.77 and a two-hundred day moving average price of $51.00. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a market cap of $40.85 billion, a PE ratio of 13.88, a P/E/G ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the firm posted $1.13 EPS. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.10%. Bank of New York Mellon’s dividend payout ratio (DPR) is 42.32%.

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.