The Bank of New York Mellon Co. (NYSE:BK) Holdings Lowered by Lincoln Capital LLC

Lincoln Capital LLC cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,076 shares of the bank’s stock after selling 777 shares during the period. Bank of New York Mellon makes up approximately 0.8% of Lincoln Capital LLC’s investment portfolio, making the stock its 27th biggest position. Lincoln Capital LLC’s holdings in Bank of New York Mellon were worth $3,750,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BK. Norges Bank purchased a new position in Bank of New York Mellon in the 4th quarter worth about $813,701,000. Vanguard Group Inc. increased its position in shares of Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after acquiring an additional 4,293,751 shares in the last quarter. KBC Group NV raised its holdings in shares of Bank of New York Mellon by 217.0% during the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after acquiring an additional 1,046,298 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bank of New York Mellon by 153.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after acquiring an additional 941,193 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake in Bank of New York Mellon by 224.9% in the 4th quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock worth $52,105,000 after purchasing an additional 692,910 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.36 during trading hours on Friday, hitting $59.90. 358,849 shares of the stock were exchanged, compared to its average volume of 3,682,414. The firm has a market capitalization of $44.79 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.17 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $60.87. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50 day moving average is $58.30 and its 200 day moving average is $55.89.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 EPS. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.80%. Bank of New York Mellon’s payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BK shares. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods upgraded Bank of New York Mellon from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $70.00 in a research report on Thursday. Morgan Stanley upped their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Jefferies Financial Group raised their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Bank of America boosted their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.15.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the transaction, the vice president now directly owns 144,721 shares in the company, valued at $8,343,165.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the transaction, the vice president now directly owns 144,721 shares in the company, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock valued at $6,475,216 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.