The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Foundry Partners LLC

Foundry Partners LLC trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 322,970 shares of the bank’s stock after selling 1,623 shares during the quarter. Foundry Partners LLC’s holdings in Bank of New York Mellon were worth $14,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quilter Plc purchased a new position in Bank of New York Mellon during the 1st quarter valued at about $446,850,000. Brown Brothers Harriman & Co. boosted its holdings in Bank of New York Mellon by 97.1% during 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 during the period. Exos TFP Holdings LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $32,000. Sunbelt Securities Inc. purchased a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $36,000. Finally, Sandy Spring Bank purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $36,000. 81.29% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 0.9 %

NYSE:BK opened at $44.80 on Tuesday. The stock’s 50 day simple moving average is $44.86 and its 200-day simple moving average is $44.13. The Bank of New York Mellon Co. has a 12-month low of $36.22 and a 12-month high of $52.26. The firm has a market cap of $34.89 billion, a P/E ratio of 13.06, a PEG ratio of 1.18 and a beta of 1.10. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, July 18th. The bank reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm 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 posted $1.15 earnings per share. Bank of New York Mellon’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that The Bank of New York Mellon Co. will post 4.84 EPS for the current 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 issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.75%. 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. Bank of New York Mellon’s dividend payout ratio is currently 48.98%.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 14,045 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 23,816 shares in the company, valued at $1,086,962.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP J Kevin Mccarthy sold 35,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 98,102 shares in the company, valued at $4,545,065.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 14,045 shares of the company’s stock in a transaction on Friday, August 4th. The shares were 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 owns 23,816 shares in the company, 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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BK. Morgan Stanley decreased their price objective on Bank of New York Mellon from $49.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $43.00 to $44.00 in a research note on Wednesday, July 19th. StockNews.com assumed coverage on Bank of New York Mellon in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Citigroup decreased their target price on 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $53.00.

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.