SVB Wealth LLC Has $12.59 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

SVB Wealth LLC lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 23.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,845 shares of the bank’s stock after selling 75,063 shares during the quarter. SVB Wealth LLC’s holdings in Bank of New York Mellon were worth $12,588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Dakota Wealth Management raised its holdings in shares of Bank of New York Mellon by 35.6% in the 4th quarter. Dakota Wealth Management now owns 126,868 shares of the bank’s stock worth $6,603,000 after purchasing an additional 33,305 shares during the period. Waldron Private Wealth LLC raised its holdings in shares of Bank of New York Mellon by 20.4% in the 4th quarter. Waldron Private Wealth LLC now owns 6,982 shares of the bank’s stock worth $363,000 after purchasing an additional 1,184 shares during the period. Beverly Hills Private Wealth LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $261,000. Conning Inc. bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $201,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $2,420,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BK. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Citigroup boosted 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 report on Wednesday, February 14th. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price on the stock in a report on Monday, December 18th. Finally, UBS Group boosted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Hold” and a consensus target price of $56.72.

Bank of New York Mellon Trading Down 1.5 %

NYSE BK traded down $0.83 during trading on Tuesday, hitting $54.26. 1,539,065 shares of the company’s stock traded hands, compared to its average volume of 3,927,483. The stock has a fifty day moving average of $55.77 and a two-hundred day moving average of $51.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The firm has a market cap of $40.85 billion, a P/E ratio of 13.88, a PEG ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.10%. Bank of New York Mellon’s payout ratio is 42.32%.

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.