Poehling Capital Management INC. Decreases Position in The Bank of New York Mellon Co. (NYSE:BK)

Poehling Capital Management INC. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,229 shares of the bank’s stock after selling 403 shares during the period. Poehling Capital Management INC.’s holdings in Bank of New York Mellon were worth $3,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares during the last quarter. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth $1,150,462,000. Ameriprise Financial Inc. lifted its position in shares of Bank of New York Mellon by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank’s stock worth $908,281,000 after purchasing an additional 35,413 shares during the last quarter. Northern Trust Corp lifted its position in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock worth $732,468,000 after purchasing an additional 1,526,686 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after purchasing an additional 1,125,493 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BK. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Morgan Stanley decreased their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Truist Financial cut their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Citigroup lifted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.31.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the sale, the executive vice president now owns 55,115 shares of the company’s stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 1.3%

NYSE BK opened at $88.94 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market cap of $63.63 billion, a PE ratio of 15.31, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63. The firm’s fifty day moving average is $81.61 and its two-hundred day moving average is $81.63.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 earnings per share. Analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

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.