The Bank of New York Mellon Co. (NYSE:BK) Stock Position Decreased by Waldron Private Wealth LLC

Waldron Private Wealth LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 5.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,378 shares of the bank’s stock after selling 391 shares during the quarter. Waldron Private Wealth LLC’s holdings in Bank of New York Mellon were worth $382,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. lifted its position in shares of Bank of New York Mellon by 82.1% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after acquiring an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $30,000. Able Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon during the first quarter valued at $32,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BK. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Evercore ISI upped their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Finally, Barclays lifted their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $66.14.

Bank of New York Mellon Trading Up 1.4 %

Shares of BK stock opened at $68.22 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $68.37. The firm’s fifty day simple moving average is $63.36 and its 200 day simple moving average is $59.28. The firm has a market capitalization of $50.34 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio is 43.52%.

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.