Wilson & Boucher Capital Management LLC Sells 550 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Wilson & Boucher Capital Management LLC cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,190 shares of the bank’s stock after selling 550 shares during the period. Wilson & Boucher Capital Management LLC’s holdings in Bank of New York Mellon were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Bank of New York Mellon by 3.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 98,989 shares of the bank’s stock worth $4,913,000 after purchasing an additional 3,626 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Bank of New York Mellon by 5.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 48,448 shares of the bank’s stock worth $2,404,000 after purchasing an additional 2,502 shares in the last quarter. Norinchukin Bank The increased its stake in Bank of New York Mellon by 21.7% during the 1st quarter. Norinchukin Bank The now owns 30,600 shares of the bank’s stock worth $1,519,000 after purchasing an additional 5,451 shares in the last quarter. Norges Bank bought a new stake in Bank of New York Mellon during the 4th quarter worth approximately $555,083,000. Finally, Denali Advisors LLC increased its stake in Bank of New York Mellon by 800.0% during the 1st quarter. Denali Advisors LLC now owns 6,300 shares of the bank’s stock worth $313,000 after purchasing an additional 5,600 shares in the last quarter. 83.00% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK traded down $0.78 during midday trading on Friday, reaching $40.15. 44,018 shares of the stock were exchanged, compared to its average volume of 3,591,573. The Bank of New York Mellon Co. has a twelve month low of $39.78 and a twelve month high of $64.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.78. The company has a market cap of $32.45 billion, a P/E ratio of 10.39, a PEG ratio of 1.67 and a beta of 1.11. The stock’s 50 day simple moving average is $43.17 and its 200 day simple moving average is $44.82.

Bank of New York Mellon (NYSE:BKGet Rating) last posted its quarterly earnings results on Friday, July 15th. The bank reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.09). The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.17 billion. Bank of New York Mellon had a net margin of 20.61% and a return on equity of 9.49%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 4.22 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 25th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Friday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.34. Bank of New York Mellon’s payout ratio is 37.56%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BK. Credit Suisse Group decreased their price target on shares of Bank of New York Mellon from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, July 19th. Morgan Stanley decreased their target price on shares of Bank of New York Mellon from $53.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 6th. Citigroup decreased their target price on shares of Bank of New York Mellon from $50.00 to $46.00 in a research note on Tuesday, July 12th. Barclays set a $61.00 target price on shares of Bank of New York Mellon in a research note on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $42.00 to $46.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.73.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, CEO Thomas P. Gibbons sold 105,062 shares of Bank of New York Mellon stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $43.24, for a total value of $4,542,880.88. Following the transaction, the chief executive officer now owns 221,018 shares in the company, valued at $9,556,818.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.

About Bank of New York Mellon

(Get Rating)

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, prime brokerage, and data analytics.

See Also

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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