Hsbc Holdings PLC lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,452,750 shares of the bank's stock after selling 166,556 shares during the period. Hsbc Holdings PLC owned about 0.34% of Bank of New York Mellon worth $188,495,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BK. J. Safra Sarasin Holding AG boosted its stake in shares of Bank of New York Mellon by 419.5% during the 4th quarter. J. Safra Sarasin Holding AG now owns 290,453 shares of the bank's stock worth $22,316,000 after acquiring an additional 234,538 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Bank of New York Mellon by 1.7% in the 4th quarter. OneDigital Investment Advisors LLC now owns 25,376 shares of the bank's stock valued at $1,950,000 after purchasing an additional 435 shares during the period. State of Tennessee Department of Treasury increased its stake in Bank of New York Mellon by 2.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 324,440 shares of the bank's stock worth $24,927,000 after purchasing an additional 6,307 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in Bank of New York Mellon by 5.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 68,024 shares of the bank's stock worth $5,229,000 after buying an additional 3,635 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Bank of New York Mellon by 147.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 60,014 shares of the bank's stock valued at $4,611,000 after buying an additional 35,783 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.
Bank of New York Mellon Stock Performance
Shares of BK stock traded down $0.05 during trading on Friday, reaching $78.67. The company had a trading volume of 2,507,972 shares, compared to its average volume of 3,965,033. The company has a market capitalization of $56.48 billion, a PE ratio of 13.54, a PEG ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm's 50 day simple moving average is $81.68 and its two-hundred day simple moving average is $80.47. The Bank of New York Mellon Co. has a one year low of $56.08 and a one year high of $90.34.
Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.
Bank of New York Mellon Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.39%. Bank of New York Mellon's payout ratio is 30.62%.
Analyst Ratings Changes
Several analysts have issued reports on BK shares. Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Bank of America upped their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Morgan Stanley reduced their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Citigroup boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $91.31.
Get Our Latest Stock Report on BK
Insider Buying and Selling at Bank of New York Mellon
In related news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.
About Bank of New York Mellon
(
Free Report)
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.
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