The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,929 shares of the bank’s stock after selling 346 shares during the quarter. First Hawaiian Bank’s holdings in Bank of New York Mellon were worth $3,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 160.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after acquiring an additional 3,297 shares during the period. Prudential PLC acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at $1,096,000. Cetera Investment Advisers increased its holdings in shares of Bank of New York Mellon by 3.3% in the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,154 shares during the period. Candriam Luxembourg S.C.A. increased its stake in Bank of New York Mellon by 54.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after buying an additional 81,728 shares during the period. Finally, Zions Bancorporation N.A. increased its stake in Bank of New York Mellon by 165.3% in the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after buying an additional 909 shares during the period. Institutional investors and hedge funds own 81.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $43.00 to $44.00 in a research note on Wednesday, July 19th. StockNews.com assumed coverage on shares of Bank of New York Mellon in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Citigroup dropped their price objective on shares of Bank of New York Mellon from $58.00 to $55.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Hold” and a consensus price target of $52.90.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $45.82 on Friday. The firm has a market capitalization of $35.68 billion, a P/E ratio of 13.36, a PEG ratio of 1.18 and a beta of 1.10. The Bank of New York Mellon Co. has a one year low of $36.22 and a one year high of $52.26. The company’s fifty day moving average is $44.81 and its two-hundred day moving average is $44.25. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, July 18th. The bank reported $1.38 EPS for the quarter, topping the consensus estimate of $1.22 by $0.16. Bank of New York Mellon had a net margin of 10.95% and a return on equity of 11.88%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the firm earned $1.15 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Analysts forecast that The Bank of New York Mellon Co. will post 4.85 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Friday, July 28th were given a $0.42 dividend. The ex-dividend date was Thursday, July 27th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a dividend yield of 3.67%. Bank of New York Mellon’s payout ratio is currently 48.98%.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 35,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total value of $1,621,550.00. Following the sale, the executive vice president now directly owns 98,102 shares in the company, valued at approximately $4,545,065.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 14,045 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $45.64, for a total value of $641,013.80. Following the transaction, the insider now directly owns 23,816 shares in the company, valued at approximately $1,086,962.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 35,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the completion of the transaction, the executive vice president now owns 98,102 shares in the company, valued at $4,545,065.66. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

About Bank of New York Mellon

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.