The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Bokf Na

Bokf Na reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 17.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,998 shares of the bank’s stock after selling 1,312 shares during the period. Bokf Na’s holdings in Bank of New York Mellon were worth $273,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Brown Brothers Harriman & Co. boosted its stake in shares of Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. Exos TFP Holdings LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $32,000. Sandy Spring Bank purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $36,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $45,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Bank of New York Mellon during the first quarter worth approximately $52,000. 81.29% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

NYSE BK opened at $45.42 on Friday. The stock has a market cap of $35.37 billion, a PE ratio of 13.24, a P/E/G ratio of 1.15 and a beta of 1.09. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94. The Bank of New York Mellon Co. has a twelve month low of $36.22 and a twelve month high of $52.26. The stock has a fifty day simple moving average of $44.67 and a 200-day simple moving average of $44.58.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.16. The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Bank of New York Mellon had a return on equity of 11.88% and a net margin of 10.95%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 EPS. Equities analysts anticipate that The Bank of New York Mellon Co. will post 4.87 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Friday, July 28th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, July 27th. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.70%. Bank of New York Mellon’s dividend payout ratio is currently 48.98%.

Analyst Ratings Changes

Several brokerages recently commented on BK. Citigroup dropped their price target on Bank of New York Mellon from $58.00 to $55.00 in a research report on Wednesday, July 19th. StockNews.com assumed coverage on Bank of New York Mellon in a report on Thursday, August 17th. They issued a “hold” rating for the company. Evercore ISI dropped their target price on Bank of New York Mellon from $49.00 to $46.00 in a report on Friday, May 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $43.00 to $44.00 in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Hold” and a consensus price target of $52.90.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 35,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the transaction, the executive vice president now owns 98,102 shares of the company’s stock, valued at approximately $4,545,065.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP J Kevin Mccarthy sold 35,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the transaction, the executive vice president now owns 98,102 shares of the company’s stock, valued at approximately $4,545,065.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 14,045 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $45.64, for a total value of $641,013.80. Following the transaction, the insider now directly owns 23,816 shares in the company, valued at approximately $1,086,962.24. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

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.