First American Trust FSB Sells 19,983 Shares of Bank of New York Mellon Corporation $BNY

Key Points

• First American Trust FSB cut its Bank of New York Mellon stake by 19.5% in the fourth quarter, selling 19,983 shares and leaving it with 82,621 shares valued at about $9.59 million.
• Bank of New York Mellon recently delivered better-than-expected quarterly results, reporting EPS of $2.25 versus estimates of $1.94 and revenue of $5.41 billion versus expectations of $5.14 billion.
• Analysts remain generally positive on BNY, with a Moderate Buy consensus rating and an average target price of $138.08, while the company also paid a quarterly dividend of $0.53 per share.

First American Trust FSB reduced its position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,621 shares of the bank's stock after selling 19,983 shares during the quarter. First American Trust FSB's holdings in Bank of New York Mellon were worth $9,591,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BNY. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $220,000. Sivia Capital Partners LLC boosted its stake in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock valued at $309,000 after purchasing an additional 909 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $2,482,000. Treasurer of the State of North Carolina boosted its stake in shares of Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock valued at $30,466,000 after purchasing an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its stake in shares of Bank of New York Mellon by 11,890.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock valued at $109,000 after purchasing an additional 1,189 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BNY has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a "neutral" rating on the stock. Weiss Ratings upgraded shares of Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday, May 4th. Barclays boosted their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Finally, Evercore set a $136.00 target price on shares of Bank of New York Mellon in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.08.

Bank of New York Mellon Stock Down 2.3%

Shares of NYSE BNY opened at $139.89 on Thursday. The stock has a market capitalization of $96.02 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.05 and a beta of 1.07. The company has a 50-day moving average price of $134.27 and a 200-day moving average price of $123.41. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $144.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The business's revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. On average, equities research analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon's dividend payout ratio (DPR) is currently 26.27%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the transaction, the insider owned 17,259 shares of the company's stock, valued at $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last three months. Corporate insiders own 0.17% of the company's stock.

Bank of New York Mellon Company Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world's capital markets, partnering with clients to help them operate more efficiently and accelerate growth.

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