WFA of San Diego LLC Lowers Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

WFA of San Diego LLC reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,633 shares of the bank’s stock after selling 230 shares during the period. WFA of San Diego LLC’s holdings in Bank of New York Mellon were worth $692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Bank of New York Mellon by 13.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank’s stock worth $861,000 after purchasing an additional 1,803 shares in the last quarter. Tidal Investments LLC increased its stake in Bank of New York Mellon by 20.6% during the 1st quarter. Tidal Investments LLC now owns 24,671 shares of the bank’s stock worth $1,421,000 after buying an additional 4,210 shares in the last quarter. Hancock Whitney Corp raised its holdings in shares of Bank of New York Mellon by 3.9% during the first quarter. Hancock Whitney Corp now owns 15,373 shares of the bank’s stock valued at $886,000 after acquiring an additional 576 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Bank of New York Mellon by 15.5% in the first quarter. Citizens Financial Group Inc. RI now owns 40,980 shares of the bank’s stock valued at $2,361,000 after acquiring an additional 5,505 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Bank of New York Mellon in the first quarter worth approximately $35,514,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.6 %

Shares of BK opened at $81.75 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market cap of $59.44 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The company’s 50-day moving average price is $75.67 and its 200 day moving average price is $67.20. The Bank of New York Mellon Co. has a 12-month low of $46.81 and a 12-month high of $82.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Analyst Ratings Changes

A number of research analysts have weighed in on BK shares. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Citigroup boosted their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays increased their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Morgan Stanley upped their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.15.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

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.