Financial Engines Advisors L.L.C. Trims Stock Position in The Bank of New York Mellon Corporation (NYSE:BK)

Key Points

• Financial Engines Advisors L.L.C. reduced its stake in The Bank of New York Mellon Corporation by 11.1%, owning 159,826 shares worth approximately $13.4 million after selling 20,029 shares in the first quarter.
• The Bank of New York Mellon recently reported an EPS of $1.94, surpassing analysts' expectations, while its revenue increased by 9.4% year-over-year, reaching $4.77 billion.
• The bank declared a quarterly dividend of $0.53, up from the previous $0.47, indicating a 2.1% yield and a payout ratio of 32.37%.

Financial Engines Advisors L.L.C. decreased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 11.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,826 shares of the bank's stock after selling 20,029 shares during the quarter. Financial Engines Advisors L.L.C.'s holdings in Bank of New York Mellon were worth $13,404,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC purchased a new stake in Bank of New York Mellon in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. Finally, REAP Financial Group LLC grew its stake in shares of 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 buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 1.6%

Shares of NYSE:BK traded up $1.59 on Thursday, hitting $103.50. 2,943,075 shares of the company's stock were exchanged, compared to its average volume of 4,244,615. The firm's 50-day moving average is $95.25 and its 200 day moving average is $87.86. The company has a market capitalization of $72.99 billion, a PE ratio of 15.80, a P/E/G ratio of 1.00 and a beta of 1.12. The Bank of New York Mellon Corporation has a 1-year low of $64.50 and a 1-year high of $104.47. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The firm had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.80 billion. During the same period in the prior year, the firm earned $1.51 EPS. The business's revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were paid a $0.53 dividend. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, July 25th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.37%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

BK has been the subject of a number of research reports. Truist Financial lifted their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company a "hold" rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Evercore ISI lifted their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.08.

About Bank of New York Mellon

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.