The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,606 shares of the bank’s stock after selling 4,589 shares during the quarter. Valley National Advisers Inc.’s holdings in Bank of New York Mellon were worth $4,413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth approximately $28,000. Able Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon in the 1st quarter valued at $32,000. Hartford Financial Management Inc. lifted its holdings in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.0 %

BK stock traded down $0.03 during midday trading on Wednesday, hitting $60.47. 1,528,637 shares of the company’s stock were exchanged, compared to its average volume of 3,695,877. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $60.91. The business has a 50-day simple moving average of $58.57 and a two-hundred day simple moving average of $56.19. The stock has a market capitalization of $45.22 billion, a PE ratio of 14.75, a P/E/G ratio of 1.20 and a beta of 1.09. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.78%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Wall Street Analyst Weigh In

BK has been the subject of a number of recent research reports. Evercore ISI reiterated an “in-line” rating and issued a $61.00 target price on shares of Bank of New York Mellon in a research report on Wednesday. Keefe, Bruyette & Woods raised shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $70.00 in a research note on Thursday, June 27th. Jefferies Financial Group upped their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Bank of America boosted their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.15.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now owns 24,346 shares in the company, valued at approximately $1,410,363.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,928 shares of company stock worth $6,475,216. 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.