First National Bank & Trust Co. of Newtown Sells 150 Shares of The Bank of New York Mellon Corporation $BK

First National Bank & Trust Co. of Newtown decreased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,567 shares of the bank’s stock after selling 150 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Bank of New York Mellon were worth $598,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BK. Nuveen LLC bought a new position in Bank of New York Mellon during the first quarter worth $773,627,000. AustralianSuper Pty Ltd acquired a new stake in Bank of New York Mellon during the first quarter worth $92,502,000. Goldman Sachs Group Inc. boosted its stake in Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after buying an additional 1,052,145 shares in the last quarter. Wellington Management Group LLP boosted its stake in Bank of New York Mellon by 257.6% during the first quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after buying an additional 890,593 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Bank of New York Mellon by 37.7% in the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after purchasing an additional 887,361 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BK shares. TD Cowen started coverage on shares of Bank of New York Mellon in a research note on Thursday, September 25th. They issued a “buy” rating on the stock. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Truist Financial lifted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley boosted their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.92.

Bank of New York Mellon Trading Down 1.9%

NYSE:BK opened at $106.89 on Thursday. The Bank of New York Mellon Corporation has a twelve month low of $70.41 and a twelve month high of $110.87. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $104.36 and a two-hundred day moving average price of $92.60. The company has a market cap of $75.39 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 1.03 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 EPS. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, July 25th. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s payout ratio is currently 32.37%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

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.