Curbstone Financial Management Corp Decreases Stake in The Bank of New York Mellon Corporation $BK

Curbstone Financial Management Corp decreased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 3.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,750 shares of the bank’s stock after selling 400 shares during the period. Curbstone Financial Management Corp’s holdings in Bank of New York Mellon were worth $888,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $220,000. GAMMA Investing LLC grew its position in shares of Bank of New York Mellon by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 16,692 shares of the bank’s stock valued at $1,400,000 after acquiring an additional 2,168 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Bank of New York Mellon by 29.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank’s stock valued at $18,740,000 after acquiring an additional 50,368 shares during the period. Sowell Financial Services LLC bought a new position in shares of Bank of New York Mellon during the 1st quarter valued at approximately $695,000. Finally, State of Alaska Department of Revenue grew its position in shares of Bank of New York Mellon by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 84,104 shares of the bank’s stock valued at $7,053,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BK. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Barclays raised their price objective on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.62.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $105.77 on Friday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The stock has a market capitalization of $74.59 billion, a PE ratio of 15.26, a P/E/G ratio of 1.00 and a beta of 1.13. The company’s 50 day simple moving average is $105.59 and its two-hundred day simple moving average is $94.47.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share 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 Friday, November 7th. Stockholders of record on Monday, October 27th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

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.