Capital Asset Advisory Services LLC Sells 1,330 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Capital Asset Advisory Services LLC lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 32.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,829 shares of the bank’s stock after selling 1,330 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Bank of New York Mellon were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BK. Parvin Asset Management LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at $25,000. Bellwether Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth about $28,000. REAP Financial Group LLC grew its holdings in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth about $33,000. Finally, South Plains Financial Inc. purchased a new stake in Bank of New York Mellon in the 4th quarter worth about $34,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 0.5%

NYSE:BK opened at $89.39 on Wednesday. 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. The company has a 50-day moving average of $82.54 and a 200 day moving average of $82.39. The firm has a market cap of $63.95 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.10%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BK. Wall Street Zen lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and upped their price objective for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Evercore ISI upped their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.85.

Insider Activity

In other news, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company’s stock, valued at $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

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.