Northwest Investment Counselors LLC Has $2.95 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Northwest Investment Counselors LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,351 shares of the bank’s stock after purchasing an additional 873 shares during the period. Northwest Investment Counselors LLC’s holdings in Bank of New York Mellon were worth $2,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. raised its holdings in Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Exos TFP Holdings LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $32,000. Sandy Spring Bank acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $36,000. Sunbelt Securities Inc. acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth $36,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $45,000. 81.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on Bank of New York Mellon from $58.00 to $55.00 in a report on Wednesday, July 19th. StockNews.com assumed coverage on Bank of New York Mellon in a report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley lowered their price target on Bank of New York Mellon from $49.00 to $48.00 and set an “underweight” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $43.00 to $44.00 in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 14,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $45.64, for a total transaction of $641,013.80. Following the transaction, the insider now directly owns 23,816 shares of the company’s stock, valued at approximately $1,086,962.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP J Kevin Mccarthy sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $46.33, for a total value of $1,621,550.00. Following the completion of the sale, the executive vice president now directly owns 98,102 shares of the company’s stock, valued at $4,545,065.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 14,045 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $45.64, for a total value of $641,013.80. Following the completion of the sale, the insider now directly owns 23,816 shares of the company’s stock, valued at $1,086,962.24. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Bank of New York Mellon Trading Down 1.3 %

Shares of Bank of New York Mellon stock traded down $0.61 on Friday, hitting $45.21. 16,217,223 shares of the company’s stock traded hands, compared to its average volume of 5,264,308. 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 has a debt-to-equity ratio of 0.94, a current ratio of 0.72 and a quick ratio of 0.72. The company has a fifty day moving average of $44.86 and a two-hundred day moving average of $44.17. The company has a market capitalization of $35.21 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, July 18th. The bank reported $1.38 EPS for the quarter, beating the consensus estimate of $1.22 by $0.16. Bank of New York Mellon had a return on equity of 11.88% and a net margin of 10.95%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 4.85 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Friday, July 28th were paid a dividend of $0.42 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Thursday, July 27th. Bank of New York Mellon’s dividend payout ratio is 48.98%.

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.