The Bank of New York Mellon Corporation $BK Holdings Trimmed by City Holding Co.

City Holding Co. lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 12.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,304 shares of the bank’s stock after selling 313 shares during the quarter. City Holding Co.’s holdings in Bank of New York Mellon were worth $210,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BK. Opal Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at $25,000. Cornerstone Planning Group LLC lifted its holdings in shares of Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after purchasing an additional 196 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at $32,000. Finally, Hoey Investments Inc. purchased a new stake in shares of Bank of New York Mellon during the second quarter valued at $32,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the sale, the executive vice president directly owned 35,115 shares of the company’s stock, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Stock Up 0.5%

Shares of Bank of New York Mellon stock opened at $109.58 on Monday. The stock has a 50-day moving average price of $103.79 and a 200 day moving average price of $92.19. The company has a market cap of $77.28 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.03 and a beta of 1.14. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 1 year low of $70.41 and a 1 year high of $110.87.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business earned $1.51 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were paid a dividend of $0.53 per share. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen assumed coverage on Bank of New York Mellon in a report on Thursday. They set a “buy” rating for the company. Keefe, Bruyette & Woods upped their target price 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. Evercore ISI upped their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Truist Financial increased their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Finally, Citigroup increased their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.00.

Bank of New York Mellon 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.