The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,144 shares of the bank’s stock after selling 229 shares during the period. Hancock Whitney Corp’s holdings in Bank of New York Mellon were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BK. Olistico Wealth LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $30,000. Able Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Bank of New York Mellon during the 1st quarter worth about $32,000. Clearstead Trust LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. Finally, Family Firm Inc. purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at about $40,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 0.1 %

Shares of BK stock opened at $71.82 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a fifty day moving average of $65.98 and a 200-day moving average of $60.72. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $71.96. The stock has a market cap of $53.71 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.17 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a $0.47 dividend. The ex-dividend date was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is 43.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BK shares. Morgan Stanley upped their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Barclays boosted their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Citigroup raised their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Evercore ISI increased their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.59.

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.