Crews Bank & Trust Has $225,000 Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Crews Bank & Trust cut its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 8.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,683 shares of the bank’s stock after selling 233 shares during the period. Crews Bank & Trust’s holdings in Bank of New York Mellon were worth $225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon during the first quarter valued at $25,000. Bellwether Advisors LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at $28,000. REAP Financial Group LLC grew its holdings in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after buying an additional 218 shares in the last quarter. Finally, Transce3nd LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at $33,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

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

Bank of New York Mellon Stock Performance

BK opened at $91.58 on Monday. The company has a market cap of $65.52 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The stock has a 50-day moving average of $85.50 and a 200-day moving average of $83.28. The Bank of New York Mellon Corporation has a 52-week low of $58.19 and a 52-week high of $92.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69.

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. The company 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 12.96% and a net margin of 11.78%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 EPS. As a group, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and lifted their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Evercore ISI lifted their price target 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. Morgan Stanley boosted their target price on 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, Wells Fargo & Company boosted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.85.

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.