The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division reduced its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,714 shares of the bank's stock after selling 2,955 shares during the period. Central Pacific Bank Trust Division's holdings in Bank of New York Mellon were worth $4,253,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BK. Boston Common Asset Management LLC boosted its position in shares of Bank of New York Mellon by 21.3% during the first quarter. Boston Common Asset Management LLC now owns 166,180 shares of the bank's stock valued at $13,938,000 after purchasing an additional 29,133 shares in the last quarter. Kera Capital Partners Inc. boosted its holdings in Bank of New York Mellon by 9.9% in the first quarter. Kera Capital Partners Inc. now owns 2,887 shares of the bank's stock worth $242,000 after acquiring an additional 260 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Bank of New York Mellon by 7.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,897 shares of the bank's stock worth $243,000 after acquiring an additional 191 shares in the last quarter. 111 Capital bought a new stake in Bank of New York Mellon in the fourth quarter worth $477,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Bank of New York Mellon by 93.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 173,070 shares of the bank's stock worth $13,297,000 after acquiring an additional 83,649 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI boosted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Citigroup boosted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley decreased their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.08.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

BK traded up $0.31 during midday trading on Monday, reaching $88.92. The company had a trading volume of 1,438,670 shares, compared to its average volume of 4,283,966. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $82.36 and a two-hundred day moving average of $82.27. The company has a market cap of $63.61 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm's revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 earnings per share. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

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.