Metis Global Partners LLC Trims Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Metis Global Partners LLC reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,785 shares of the bank’s stock after selling 606 shares during the quarter. Metis Global Partners LLC’s holdings in Bank of New York Mellon were worth $2,383,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Bank of New York Mellon by 142.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after buying an additional 951,730 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after purchasing an additional 941,193 shares during the period. Barclays PLC grew its stake in Bank of New York Mellon by 30.0% in the third quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock worth $160,020,000 after purchasing an additional 866,548 shares in the last quarter. Northern Trust Corp raised its position in Bank of New York Mellon by 8.2% during the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Bank of New York Mellon by 1,191.2% in the 3rd quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock worth $31,953,000 after buying an additional 691,172 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 0.7 %

Bank of New York Mellon stock opened at $57.90 on Tuesday. The business has a fifty day moving average price of $56.21 and a 200-day moving average price of $52.53. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28. The stock has a market capitalization of $43.59 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.23 and a beta of 1.11. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.90%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock valued at $5,459,897 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group raised their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Bank of America upped their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley boosted their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.17.

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.