Xponance Inc. Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Xponance Inc. trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 118,603 shares of the bank’s stock after selling 4,330 shares during the period. Xponance Inc.’s holdings in Bank of New York Mellon were worth $7,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Gilbert & Cook Inc. lifted its holdings in Bank of New York Mellon by 4.7% during the fourth quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock valued at $487,000 after purchasing an additional 419 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Bank of New York Mellon in the 4th quarter worth $397,000. US Bancorp DE grew its position in shares of Bank of New York Mellon by 17.4% during the fourth quarter. US Bancorp DE now owns 201,989 shares of the bank’s stock worth $10,514,000 after purchasing an additional 29,899 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in Bank of New York Mellon by 18.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 45,047 shares of the bank’s stock valued at $2,374,000 after buying an additional 7,096 shares in the last quarter. Finally, Glassman Wealth Services lifted its position in Bank of New York Mellon by 42.8% in the fourth quarter. Glassman Wealth Services now owns 1,972 shares of the bank’s stock worth $103,000 after buying an additional 591 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $72.14 on Tuesday. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $73.19. The firm has a market cap of $53.95 billion, a PE ratio of 16.70, a P/E/G ratio of 1.17 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $66.10 and a 200 day moving average price of $60.83.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. The firm had revenue of $4.60 billion during 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 for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. Sell-side analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.61%. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BK shares. Evercore ISI increased their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating 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 company a “neutral” rating in a research report on Thursday, September 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the company from $66.00 to $80.00 in a report on Monday. Finally, Barclays boosted their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.86.

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.