Amalgamated Bank Reduces Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Amalgamated Bank trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,664 shares of the bank’s stock after selling 8,017 shares during the period. Amalgamated Bank’s holdings in Bank of New York Mellon were worth $9,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Gilbert & Cook Inc. boosted its stake in Bank of New York Mellon by 4.7% during the 4th quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock valued at $487,000 after acquiring an additional 419 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Bank of New York Mellon by 1.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 251,344 shares of the bank’s stock worth $13,082,000 after purchasing an additional 4,619 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Bank of New York Mellon by 8.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 8,679 shares of the bank’s stock worth $452,000 after purchasing an additional 684 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in Bank of New York Mellon in the fourth quarter worth about $236,000. Finally, Balentine LLC increased its holdings in Bank of New York Mellon by 4.3% in the fourth quarter. Balentine LLC now owns 7,485 shares of the bank’s stock valued at $390,000 after buying an additional 309 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set 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. Citigroup cut 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. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Barclays raised their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Morgan Stanley boosted their price objective on shares of 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

Bank of New York Mellon Trading Up 0.3 %

Bank of New York Mellon stock opened at $71.04 on Thursday. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $71.80. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $53.12 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.17 and a beta of 1.08. The firm has a 50-day moving average price of $65.63 and a two-hundred day moving average price of $60.46.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.65%. 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. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

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.