Isthmus Partners LLC Cuts Stake in The Bank of New York Mellon Corporation (NYSE:BK)

Isthmus Partners LLC lessened its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 24.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,509 shares of the bank's stock after selling 57,312 shares during the period. Bank of New York Mellon makes up about 1.8% of Isthmus Partners LLC's holdings, making the stock its 13th biggest holding. Isthmus Partners LLC's holdings in Bank of New York Mellon were worth $14,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Alpine Bank Wealth Management purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $25,000. Parvin Asset Management LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $25,000. Bellwether Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $28,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock valued at $30,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BK. Citigroup upped their price objective on shares of 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. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Truist Financial cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Finally, Evercore ISI upped their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average target price of $92.08.

Bank of New York Mellon Trading Up 0.0%

NYSE BK traded up $0.04 during trading on Friday, hitting $93.70. The company had a trading volume of 4,276,886 shares, compared to its average volume of 4,117,795. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $93.93. The company has a market cap of $67.04 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07. The company's fifty day moving average is $89.60 and its 200-day moving average is $84.61.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the business earned $1.29 EPS. The company's revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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 $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.01%. Bank of New York Mellon's payout ratio is 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.