The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 39.5% in the fourth quarter, Holdings Channel reports. The fund owned 9,580 shares of the bank’s stock after selling 6,243 shares during the period. Verdence Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quent Capital LLC increased its stake in shares of Bank of New York Mellon by 3.8% during the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after acquiring an additional 182 shares during the period. Hartford Financial Management Inc. boosted its holdings in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares in the last quarter. Commonwealth Retirement Investments LLC increased its position in Bank of New York Mellon by 0.8% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock worth $1,445,000 after purchasing an additional 221 shares during the period. Arjuna Capital raised its stake in shares of Bank of New York Mellon by 0.5% during the 3rd quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock worth $2,066,000 after buying an additional 251 shares in the last quarter. Finally, BRYN MAWR TRUST Co lifted its holdings in shares of Bank of New York Mellon by 3.3% in the 3rd quarter. BRYN MAWR TRUST Co now owns 8,000 shares of the bank’s stock valued at $341,000 after buying an additional 258 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BK shares. Bank of America upped their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Jefferies Financial Group increased their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Morgan Stanley increased their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Stock Up 1.5 %

Shares of NYSE BK opened at $57.16 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The firm’s 50-day moving average is $55.79 and its two-hundred day moving average is $51.48. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The company has a market capitalization of $43.03 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

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.