First Hawaiian Bank Has $4.50 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

First Hawaiian Bank trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 53,638 shares of the bank’s stock after selling 448 shares during the period. First Hawaiian Bank’s holdings in Bank of New York Mellon were worth $4,499,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Bank of New York Mellon by 130.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,177 shares of the bank’s stock worth $551,000 after buying an additional 4,065 shares during the last quarter. Blue Trust Inc. raised its position in shares of Bank of New York Mellon by 57.6% during the 4th quarter. Blue Trust Inc. now owns 2,637 shares of the bank’s stock valued at $189,000 after acquiring an additional 964 shares during the last quarter. Nilsine Partners LLC boosted its holdings in Bank of New York Mellon by 29.5% during the fourth quarter. Nilsine Partners LLC now owns 12,053 shares of the bank’s stock worth $926,000 after buying an additional 2,746 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $220,000. Finally, Perigon Wealth Management LLC increased its position in shares of Bank of New York Mellon by 7.3% in the 4th quarter. Perigon Wealth Management LLC now owns 6,369 shares of the bank’s stock valued at $524,000 after buying an additional 431 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their price objective for the stock from $87.00 to $97.00 in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $92.08.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Down 1.5%

Shares of BK opened at $88.87 on Thursday. The firm’s 50 day simple moving average is $82.21 and its 200 day simple moving average is $82.06. The company has a market capitalization of $63.58 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.63.

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

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is currently 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.