Mezzasalma Advisors LLC Decreases Position in The Bank of New York Mellon Corporation (NYSE:BK)

Mezzasalma Advisors LLC trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,322 shares of the bank’s stock after selling 239 shares during the period. Mezzasalma Advisors LLC’s holdings in Bank of New York Mellon were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BK. Opal Wealth Advisors LLC bought a new position in Bank of New York Mellon during the 1st quarter valued at about $25,000. Parvin Asset Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $28,000. REAP Financial Group LLC raised its holdings in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after buying an additional 218 shares during the period. Finally, Transce3nd LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.8%

Shares of Bank of New York Mellon stock opened at $89.75 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $64.21 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.03 and a beta of 1.08. The firm’s 50-day moving average is $84.68 and its two-hundred day moving average is $83.05. The Bank of New York Mellon Corporation has a 1 year low of $57.79 and a 1 year high of $90.63.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. As a group, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Insider Activity

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on 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 transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BK has been the topic of several research analyst reports. Citigroup upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Wall Street Zen downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Bank of New York Mellon 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.