Stock Yards Bank & Trust Co. Sells 190 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Stock Yards Bank & Trust Co. cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,506 shares of the bank’s stock after selling 190 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Bank of New York Mellon were worth $210,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $28,000. REAP Financial Group LLC increased its stake in Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after purchasing an additional 218 shares during the period. Transce3nd LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $33,000. Finally, South Plains Financial Inc. purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $34,000. 85.31% of the stock is currently owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now owns 21,679 shares of the company’s stock, valued at $1,680,122.50. This represents a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 over the last ninety days. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Down 1.3%

NYSE BK opened at $88.50 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63. The firm has a market capitalization of $63.32 billion, a PE ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.08. The stock’s 50 day moving average is $84.13 and its 200 day moving average is $82.94.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. Research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.12%. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BK. Wall Street Zen cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Evercore ISI lifted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Morgan Stanley lifted their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. Finally, Truist Financial cut Bank of New York Mellon from a “buy” rating to a “hold” rating and lifted their price target for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.85.

Bank of New York Mellon Company 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.