Vident Advisory LLC Cuts Position in The Bank of New York Mellon Co. (NYSE:BK)

Vident Advisory LLC lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,430 shares of the bank’s stock after selling 3,915 shares during the period. Vident Advisory LLC’s holdings in Bank of New York Mellon were worth $4,028,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BK. Wealthcare Advisory Partners LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $203,000. Merit Financial Group LLC increased its stake in shares of Bank of New York Mellon by 134.2% in the fourth quarter. Merit Financial Group LLC now owns 7,034 shares of the bank’s stock worth $540,000 after buying an additional 4,030 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Bank of New York Mellon by 37.9% in the fourth quarter. HB Wealth Management LLC now owns 18,815 shares of the bank’s stock worth $1,446,000 after buying an additional 5,172 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after buying an additional 135 shares during the last quarter. Finally, Ellsworth Advisors LLC increased its stake in shares of Bank of New York Mellon by 26.3% in the fourth quarter. Ellsworth Advisors LLC now owns 6,039 shares of the bank’s stock worth $464,000 after buying an additional 1,256 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BK. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Morgan Stanley dropped their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Citigroup lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.31.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company’s stock, valued at $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,114 shares of company stock worth $7,869,795. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 0.4%

Bank of New York Mellon stock opened at $90.00 on Wednesday. The company has a 50-day simple moving average of $81.47 and a 200-day simple moving average of $81.58. The firm has a market capitalization of $64.39 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. Bank of New York Mellon’s dividend payout ratio is currently 30.62%.

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.