The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,207 shares of the bank’s stock after selling 8,548 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Bank of New York Mellon were worth $3,875,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon during the 4th quarter valued at $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 worth $30,000 after acquiring an additional 218 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $33,000. Finally, South Plains Financial Inc. acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $34,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the subject of several research analyst reports. Evercore ISI boosted their price objective on 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. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Truist Financial cut 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 research note on Wednesday, May 28th. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.85.

Insider Transactions 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 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 $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,114 shares of company stock valued at $7,869,795. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $89.96 on Wednesday. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $90.63. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market cap of $64.36 billion, a PE ratio of 15.48, a P/E/G ratio of 0.97 and a beta of 1.08. The stock has a 50 day simple moving average of $83.19 and a 200-day simple moving average of $82.77.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company 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 business posted $1.29 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research 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 business also recently declared 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 2.09%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

About Bank of New York Mellon

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.