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

Evermay Wealth Management LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 22.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,797 shares of the bank’s stock after selling 510 shares during the period. Evermay Wealth Management LLC’s holdings in Bank of New York Mellon were worth $108,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. United Services Automobile Association boosted its holdings in shares of Bank of New York Mellon by 6.9% in the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 1,640 shares during the last quarter. Entropy Technologies LP purchased a new stake in Bank of New York Mellon during the first quarter valued at about $1,027,000. QRG Capital Management Inc. increased its stake in Bank of New York Mellon by 6.9% during the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after acquiring an additional 8,204 shares during the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $3,740,000. Finally, Janney Capital Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $243,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 0.7 %

Bank of New York Mellon stock traded down $0.46 during midday trading on Tuesday, hitting $67.76. 341,720 shares of the stock were exchanged, compared to its average volume of 3,787,894. The stock has a market capitalization of $50.00 billion, a PE ratio of 15.79, a P/E/G ratio of 1.18 and a beta of 1.09. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $68.37. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $63.53 and a two-hundred day simple moving average of $59.37.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.63 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 Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Activity

In related news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. Morgan Stanley lifted their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued 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. Barclays lifted their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.14.

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.