Wilson & Boucher Capital Management LLC Reduces Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Wilson & Boucher Capital Management LLC cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,790 shares of the bank’s stock after selling 200 shares during the period. Wilson & Boucher Capital Management LLC’s holdings in Bank of New York Mellon were worth $353,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $813,701,000. Massachusetts Financial Services Co. MA grew its position in shares of Bank of New York Mellon by 142.3% during 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 purchasing an additional 951,730 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $80,913,000 after purchasing an additional 941,193 shares during the period. Barclays PLC raised its position in shares of 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 buying an additional 866,548 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after buying an additional 715,421 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BK. Morgan Stanley upped their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Citigroup lifted their target price 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. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Jefferies Financial Group raised their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Bank of America upped their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five equities research 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 a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Buying and Selling

In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares in the company, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold a total of 115,928 shares of company stock worth $6,475,216 in the last ninety days. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Trading Up 1.3 %

Shares of Bank of New York Mellon stock traded up $0.76 during trading on Friday, reaching $59.09. The company’s stock had a trading volume of 2,098,327 shares, compared to its average volume of 2,819,826. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $59.70. The firm’s 50-day moving average is $57.08 and its two-hundred day moving average is $53.99. The company has a market cap of $44.19 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.20 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping 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 business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.84%. Bank of New York Mellon’s payout ratio is 40.98%.

Bank of New York Mellon 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.