Clear Creek Financial Management LLC Has $354,000 Stock Position in The Bank of New York Mellon Corporation (NYSE:BK)

Clear Creek Financial Management LLC lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 15.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,226 shares of the bank’s stock after selling 787 shares during the period. Clear Creek Financial Management LLC’s holdings in Bank of New York Mellon were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Norges Bank acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $1,150,462,000. FMR LLC raised its stake in shares of Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after acquiring an additional 3,732,862 shares during the last quarter. Northern Trust Corp raised its stake in shares of Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock valued at $732,468,000 after acquiring an additional 1,526,686 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bank of New York Mellon by 9,538.9% during the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank’s stock worth $117,414,000 after purchasing an additional 1,385,434 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $90,955,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Truist Financial lowered Bank of New York Mellon from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Citigroup increased their target price on shares of 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. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.08.

Insider Buying and Selling

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider directly owned 21,679 shares of the company’s stock, valued at $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president directly owned 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock worth $7,869,795 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 1.5%

BK opened at $92.04 on Thursday. The company has a fifty day moving average price of $87.79 and a two-hundred day moving average price of $83.83. The Bank of New York Mellon Corporation has a 1-year low of $59.19 and a 1-year high of $93.03. The company has a market cap of $65.85 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.96% and a net margin of 11.78%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. Analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

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.