Oakworth Capital Inc. Sells 1,932 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Oakworth Capital Inc. decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 59.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,292 shares of the bank’s stock after selling 1,932 shares during the period. Oakworth Capital Inc.’s holdings in Bank of New York Mellon were worth $67,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its stake in shares of Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Hartford Financial Management Inc. grew its stake in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Bank of New York Mellon in the first quarter worth $36,000. Addison Advisors LLC grew its stake in shares of Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in shares of Bank of New York Mellon in the third quarter worth $38,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $54.40 on Thursday. The firm’s 50-day moving average price is $55.73 and its 200-day moving average price is $51.10. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28. The firm has a market capitalization of $40.96 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.15 and a beta of 1.12. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.35 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.09%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group upped their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Evercore ISI upped their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Citigroup upped their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Bank of America upped their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.17.

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.