First Horizon Advisors Inc. Decreases Position in The Bank of New York Mellon Corporation (NYSE:BK)

First Horizon Advisors Inc. cut its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,610 shares of the bank's stock after selling 29,905 shares during the quarter. Bank of New York Mellon makes up approximately 1.1% of First Horizon Advisors Inc.'s portfolio, making the stock its 19th largest holding. First Horizon Advisors Inc. owned approximately 0.06% of Bank of New York Mellon worth $39,135,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BK. Capital Analysts LLC lifted its position in shares of Bank of New York Mellon by 3.7% in the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock valued at $255,000 after acquiring an additional 119 shares in the last quarter. Syon Capital LLC raised its stake in Bank of New York Mellon by 2.5% in the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Bank of New York Mellon by 1.1% in the 1st quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock valued at $1,056,000 after purchasing an additional 139 shares in the last quarter. Valmark Advisers Inc. boosted its stake in Bank of New York Mellon by 1.1% during the 1st quarter. Valmark Advisers Inc. now owns 12,821 shares of the bank's stock worth $1,075,000 after purchasing an additional 142 shares during the last quarter. Finally, NBT Bank N A NY grew its holdings in shares of Bank of New York Mellon by 1.5% during the fourth quarter. NBT Bank N A NY now owns 10,515 shares of the bank's stock worth $808,000 after buying an additional 155 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BK has been the topic of several research reports. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price target for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Citigroup raised their target price on shares of 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. 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 report on Wednesday. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Morgan Stanley boosted their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus target price 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 firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president directly owned 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president owned 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 over the last quarter. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Down 0.2%

Shares of NYSE BK traded down $0.16 during mid-day trading on Friday, reaching $91.93. 2,408,224 shares of the company's stock were exchanged, compared to its average volume of 4,129,503. The company's 50-day moving average is $88.32 and its 200-day moving average is $84.12. 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 capitalization of $65.77 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.03 and a beta of 1.07. The Bank of New York Mellon Corporation has a 52-week low of $59.19 and a 52-week high of $92.85.

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, topping the consensus estimate 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 net margin of 11.78% and a return on equity of 12.96%. Bank of New York Mellon's revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. Analysts expect 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 business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors 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 annualized dividend and a yield of 2.05%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

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.