DekaBank Deutsche Girozentrale Sells 2,805 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

DekaBank Deutsche Girozentrale lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,361 shares of the bank's stock after selling 2,805 shares during the period. DekaBank Deutsche Girozentrale's holdings in Bank of New York Mellon were worth $21,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BK. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Bank of New York Mellon during the first quarter worth about $25,000. Alpine Bank Wealth Management acquired a new stake in Bank of New York Mellon in the first quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $28,000. Finally, REAP Financial Group LLC grew its holdings in Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after purchasing an additional 218 shares during the period. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Up 0.0%

Shares of BK traded up $0.04 during trading hours on Friday, hitting $93.70. The stock had a trading volume of 4,276,886 shares, compared to its average volume of 4,117,795. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $67.04 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.00 and a beta of 1.07. The company's fifty day simple moving average is $89.60 and its 200 day simple moving average is $84.66. The Bank of New York Mellon Corporation has a 12-month low of $60.93 and a 12-month high of $93.93.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The company's revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. Equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.01%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president owned 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider owned 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 over the last quarter. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their target price for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Morgan Stanley lifted their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Citigroup lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. 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. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.08.

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.