Denali Advisors LLC Has $64,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Denali Advisors LLC cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 84.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,232 shares of the bank’s stock after selling 6,926 shares during the period. Denali Advisors LLC’s holdings in Bank of New York Mellon were worth $64,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in Bank of New York Mellon by 160.0% in the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after purchasing an additional 3,297 shares in the last quarter. Prudential PLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $1,096,000. Cetera Investment Advisers raised its stake in Bank of New York Mellon by 3.3% during the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock worth $1,769,000 after buying an additional 1,154 shares during the period. Candriam Luxembourg S.C.A. lifted its holdings in Bank of New York Mellon by 54.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock worth $11,519,000 after acquiring an additional 81,728 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its stake in Bank of New York Mellon by 165.3% in the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after acquiring an additional 909 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.1 %

Shares of NYSE:BK opened at $56.96 on Tuesday. The company’s 50-day moving average price is $55.53 and its two-hundred day moving average price is $50.00. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $57.88. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $42.88 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.22 and a beta of 1.11.

Bank of New York Mellon (NYSE:BKGet Free Report) last released its earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.16. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.30 billion. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. Bank of New York Mellon’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 5.26 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Monday, January 22nd were paid a $0.42 dividend. The ex-dividend date was Friday, January 19th. This represents a $1.68 annualized dividend and a dividend yield of 2.95%. Bank of New York Mellon’s dividend payout ratio is presently 42.32%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Hanneke Smits sold 15,425 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total transaction of $850,843.00. Following the completion of the transaction, the vice president now directly owns 119,656 shares in the company, valued at approximately $6,600,224.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. Citigroup lifted their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. UBS Group raised their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price for the company in a research note on Monday, December 18th. Finally, Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.65.

View Our Latest Report on Bank of New York Mellon

Bank of New York Mellon Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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