First Hawaiian Bank Trims Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

First Hawaiian Bank lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 12.2% during the fourth quarter, HoldingsChannel reports. The firm owned 54,086 shares of the bank’s stock after selling 7,486 shares during the quarter. First Hawaiian Bank’s holdings in Bank of New York Mellon were worth $4,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bangor Savings Bank acquired a new stake in Bank of New York Mellon in the fourth quarter valued at about $233,000. Neville Rodie & Shaw Inc. lifted its holdings in shares of Bank of New York Mellon by 82.1% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 49,935 shares of the bank’s stock valued at $3,837,000 after buying an additional 22,506 shares during the period. CWA Asset Management Group LLC grew its holdings in Bank of New York Mellon by 37.4% during the fourth quarter. CWA Asset Management Group LLC now owns 39,011 shares of the bank’s stock worth $2,997,000 after acquiring an additional 10,620 shares during the period. Nordea Investment Management AB boosted its position in shares of Bank of New York Mellon by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 62,213 shares of the bank’s stock worth $4,790,000 after purchasing an additional 3,247 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.1 %

Shares of BK traded down $0.08 on Wednesday, hitting $77.88. 2,967,836 shares of the stock traded hands, compared to its average volume of 3,531,997. The Bank of New York Mellon Co. has a 1 year low of $52.21 and a 1 year high of $82.72. The stock’s 50 day moving average is $78.46 and its two-hundred day moving average is $71.32. The firm has a market capitalization of $56.62 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup boosted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, January 2nd. Evercore ISI boosted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

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.