The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Edgar Lomax Co. VA

Edgar Lomax Co. VA lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 68.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 204,724 shares of the bank’s stock after selling 446,470 shares during the period. Edgar Lomax Co. VA’s holdings in Bank of New York Mellon were worth $15,729,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BK. Graney & King LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $35,000. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth about $39,000. TCTC Holdings LLC lifted its stake in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth about $49,000. Finally, Friedenthal Financial purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $56,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on BK. Wells Fargo & Company raised their price objective on shares of 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. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.31.

Bank of New York Mellon Stock Up 0.7 %

BK stock opened at $76.25 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $54.75 billion, a PE ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 1 year low of $55.42 and a 1 year high of $90.34. The company has a fifty day simple moving average of $82.72 and a 200 day simple moving average of $80.29.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is 30.62%.

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.