Hancock Whitney Corp Has $907,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Hancock Whitney Corp decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,144 shares of the bank’s stock after selling 229 shares during the period. Hancock Whitney Corp’s holdings in Bank of New York Mellon were worth $907,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Olistico Wealth LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter worth approximately $30,000. Able Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Bank of New York Mellon during the first quarter worth about $32,000. Clearstead Trust LLC bought a new stake in Bank of New York Mellon in the 2nd quarter worth about $32,000. Finally, Family Firm Inc. bought a new stake in Bank of New York Mellon during the second quarter worth $40,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK opened at $71.82 on Monday. The stock has a market capitalization of $53.71 billion, a P/E ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.08. 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 12-month low of $39.66 and a 12-month high of $71.96. The stock has a 50-day moving average price of $65.98 and a 200-day moving average price of $60.72.

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

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date 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 payout ratio is 43.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BK. Deutsche Bank Aktiengesellschaft lifted their target price 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Evercore ISI boosted their price objective on 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. Citigroup raised their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley upped their price target 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. Six equities research analysts have rated the stock with a hold rating and six 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 “Moderate Buy” and a consensus target price of $66.59.

Insider Buying and Selling

In other news, VP Hanneke Smits sold 15,000 shares of the 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 sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.