Diversified Trust Co Sells 12,543 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Diversified Trust Co trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 28.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,181 shares of the bank’s stock after selling 12,543 shares during the period. Diversified Trust Co’s holdings in Bank of New York Mellon were worth $1,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Greenleaf Trust grew its holdings in Bank of New York Mellon by 0.7% in the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after buying an additional 187 shares during the last quarter. Semmax Financial Advisors Inc. grew its holdings in Bank of New York Mellon by 1.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock valued at $591,000 after buying an additional 189 shares during the last quarter. Vivaldi Capital Management LP grew its holdings in Bank of New York Mellon by 3.3% in the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after buying an additional 192 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of Bank of New York Mellon by 1.4% during the 2nd quarter. LVW Advisors LLC now owns 14,058 shares of the bank’s stock worth $842,000 after purchasing an additional 196 shares in the last quarter. Finally, Certuity LLC grew its holdings in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock worth $467,000 after purchasing an additional 205 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BK has been the topic of several recent research reports. Barclays lifted their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Bank of America lifted their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley lifted their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $65.86.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

BK traded up $0.44 during trading on Wednesday, hitting $63.99. The company’s stock had a trading volume of 167,630 shares, compared to its average volume of 3,829,859. The firm’s 50 day moving average price is $61.51 and its two-hundred day moving average price is $58.29. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $65.90. The stock has a market capitalization of $47.85 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the company posted $1.38 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.94%. Bank of New York Mellon’s payout ratio is presently 43.52%.

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.