Hudson Valley Investment Advisors Inc. ADV Sells 360 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Hudson Valley Investment Advisors Inc. ADV cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,490 shares of the bank’s stock after selling 360 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Bank of New York Mellon were worth $293,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in shares of Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after acquiring an additional 3,732,862 shares during the period. Norges Bank acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $1,150,462,000. Ameriprise Financial Inc. grew its holdings in Bank of New York Mellon by 0.3% during the fourth 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 period. Northern Trust Corp grew its holdings in Bank of New York Mellon by 19.1% during the fourth 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 period. Finally, Arrowstreet Capital Limited Partnership increased its position in Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after buying an additional 1,125,493 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $90.33 on Friday. 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 firm has a market cap of $64.63 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.97 and a beta of 1.08. The stock’s fifty day moving average price is $82.87 and its two-hundred day moving average price is $82.62. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating 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 business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the company posted $1.29 earnings per share. Bank of New York Mellon’s revenue was up 5.9% compared to the same quarter last year. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.08%. Bank of New York Mellon’s payout ratio is presently 30.62%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 87,542 shares of the company’s stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on BK. 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. Wall Street Zen lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Finally, Evercore ISI upped their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.85.

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.