Delta Financial Advisors LLC Sells 198 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Delta Financial Advisors LLC reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,575 shares of the bank’s stock after selling 198 shares during the quarter. Delta Financial Advisors LLC’s holdings in Bank of New York Mellon were worth $2,424,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. HF Advisory Group LLC increased its stake in Bank of New York Mellon by 33.0% in the 4th quarter. HF Advisory Group LLC now owns 6,663 shares of the bank’s stock worth $347,000 after acquiring an additional 1,655 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Bank of New York Mellon by 95.1% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,539 shares of the bank’s stock worth $80,000 after purchasing an additional 750 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Bank of New York Mellon by 10.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock worth $3,950,000 after purchasing an additional 6,960 shares in the last quarter. Scissortail Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $560,000. Finally, Tyche Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $428,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BK. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Citigroup upped their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Finally, Bank of America increased their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.15.

Bank of New York Mellon Trading Up 1.5 %

Shares of BK stock traded up $0.79 during trading hours on Thursday, reaching $55.25. The company’s stock had a trading volume of 1,080,856 shares, compared to its average volume of 3,986,887. The stock has a market capitalization of $41.60 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.15 and a beta of 1.12. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The firm’s fifty day simple moving average is $55.73 and its 200 day simple moving average is $51.10. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.35 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.04%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.