Quent Capital LLC Reduces Position in The Bank of New York Mellon Co. (NYSE:BK)

Quent Capital LLC decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 23.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,858 shares of the bank’s stock after selling 1,180 shares during the quarter. Quent Capital LLC’s holdings in Bank of New York Mellon were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its holdings in Bank of New York Mellon by 25.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 53,688 shares of the bank’s stock worth $2,794,000 after purchasing an additional 10,799 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in shares of Bank of New York Mellon by 6.8% in the 4th quarter. Cetera Advisor Networks LLC now owns 93,306 shares of the bank’s stock worth $4,857,000 after buying an additional 5,976 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Bank of New York Mellon by 6,029.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 116,589 shares of the bank’s stock worth $6,068,000 after acquiring an additional 114,687 shares during the period. Stephens Inc. AR increased its position in Bank of New York Mellon by 0.7% during the fourth quarter. Stephens Inc. AR now owns 69,559 shares of the bank’s stock valued at $3,621,000 after acquiring an additional 512 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Bank of New York Mellon by 17.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,849,353 shares of the bank’s stock valued at $96,259,000 after acquiring an additional 280,034 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays upped their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Evercore ISI raised their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Finally, Citigroup upped their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.38.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 1.6 %

Bank of New York Mellon stock opened at $71.98 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50 day moving average price is $67.46 and its 200-day moving average price is $61.83. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $73.19. The stock has a market cap of $53.83 billion, a P/E ratio of 16.66, a PEG ratio of 1.24 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 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities 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 company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.61%. Bank of New York Mellon’s payout ratio is presently 43.52%.

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.