USA Financial Formulas Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

USA Financial Formulas decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,664 shares of the bank’s stock after selling 1,752 shares during the quarter. Bank of New York Mellon accounts for approximately 0.3% of USA Financial Formulas’ portfolio, making the stock its 19th largest position. USA Financial Formulas’ holdings in Bank of New York Mellon were worth $1,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Analysts LLC raised its holdings in Bank of New York Mellon by 3.7% in the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank’s stock worth $255,000 after purchasing an additional 119 shares in the last quarter. Cape Investment Advisory Inc. raised its holdings in Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after purchasing an additional 131 shares in the last quarter. Syon Capital LLC raised its holdings in Bank of New York Mellon by 2.5% in the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock worth $417,000 after purchasing an additional 132 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after purchasing an additional 133 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Morgan Stanley increased their target price 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. 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. Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Finally, Wells Fargo & Company increased their target price 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. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.85.

Bank of New York Mellon Trading Down 0.1%

Bank of New York Mellon stock opened at $89.96 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63. The stock has a market capitalization of $64.36 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The business’s fifty day moving average is $83.19 and its 200 day moving average is $82.77.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS 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 analysts’ expectations of $4.76 billion. During the same period last year, the firm posted $1.29 earnings per share. Bank of New York Mellon’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.09%. Bank of New York Mellon’s payout ratio is 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm’s stock in a transaction dated 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 directly owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company’s stock.

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.