RBF Capital LLC Sells 10,000 Shares of The Bank of New York Mellon Co. (NYSE:BK)

RBF Capital LLC trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 9.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the bank’s stock after selling 10,000 shares during the quarter. RBF Capital LLC’s holdings in Bank of New York Mellon were worth $7,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank increased its holdings in Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock worth $60,426,000 after purchasing an additional 82,671 shares during the period. Fifth Third Bancorp raised its position in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after buying an additional 7,935 shares in the last quarter. Natixis Advisors LLC boosted its stake in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock valued at $21,971,000 after buying an additional 17,457 shares during the period. Finally, Western Financial Corp CA bought a new stake in Bank of New York Mellon during the fourth quarter valued at $342,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares of the company’s stock, valued at $6,767,872.02. The trade was a 42.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of research analyst reports. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Barclays lifted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $91.31.

Bank of New York Mellon Stock Up 3.0 %

Shares of Bank of New York Mellon stock opened at $76.25 on Wednesday. The company has a 50-day simple moving average of $82.28 and a two-hundred day simple moving average of $80.41. The Bank of New York Mellon Co. has a 52-week low of $56.08 and a 52-week high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $54.75 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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 analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders 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 yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

About Bank of New York Mellon

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.