Sunbelt Securities Inc. Sells 224 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Sunbelt Securities Inc. decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 25.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 670 shares of the bank’s stock after selling 224 shares during the quarter. Sunbelt Securities Inc.’s holdings in Bank of New York Mellon were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. William B. Walkup & Associates Inc. bought a new stake in Bank of New York Mellon in the 2nd quarter valued at about $878,000. NewEdge Advisors LLC grew its stake in Bank of New York Mellon by 66.8% in the second quarter. NewEdge Advisors LLC now owns 28,596 shares of the bank’s stock valued at $1,713,000 after acquiring an additional 11,457 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Bank of New York Mellon by 2.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 37,093 shares of the bank’s stock valued at $2,221,000 after acquiring an additional 1,023 shares in the last quarter. Creative Planning increased its holdings in shares of Bank of New York Mellon by 3.1% during the second quarter. Creative Planning now owns 236,238 shares of the bank’s stock valued at $14,148,000 after acquiring an additional 7,058 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its position in shares of Bank of New York Mellon by 11.6% during the second quarter. SkyView Investment Advisors LLC now owns 9,469 shares of the bank’s stock worth $567,000 after purchasing an additional 983 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BK shares. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. Barclays lifted their price objective on shares of 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. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. The Goldman Sachs Group lifted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley increased their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.38.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction 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 directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $71.99 on Friday. The stock has a 50 day moving average of $67.46 and a 200 day moving average of $61.78. The company has a market capitalization of $53.84 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.24 and a beta of 1.08. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $73.19. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last announced its 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. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.38 EPS. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a $0.47 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.61%. Bank of New York Mellon’s payout ratio is currently 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.