Patton Fund Management Inc. Lowers Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Patton Fund Management Inc. decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,217 shares of the bank's stock after selling 15,865 shares during the quarter. Patton Fund Management Inc.'s holdings in Bank of New York Mellon were worth $4,463,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BK. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $220,000. Blue Trust Inc. lifted its stake in shares of Bank of New York Mellon by 12.3% during the fourth quarter. Blue Trust Inc. now owns 1,879 shares of the bank's stock valued at $144,000 after acquiring an additional 206 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after acquiring an additional 139 shares during the last quarter. Principal Securities Inc. increased its position in Bank of New York Mellon by 12.7% in the fourth quarter. Principal Securities Inc. now owns 28,301 shares of the bank's stock worth $2,174,000 after purchasing an additional 3,191 shares during the period. Finally, Allworth Financial LP raised its holdings in Bank of New York Mellon by 215.8% during the 4th quarter. Allworth Financial LP now owns 26,702 shares of the bank's stock worth $2,252,000 after purchasing an additional 18,246 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Citigroup raised their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.85.

Bank of New York Mellon Trading Up 1.9%

Shares of NYSE:BK traded up $1.72 during trading on Wednesday, reaching $91.49. The stock had a trading volume of 5,006,789 shares, compared to its average volume of 4,082,560. The Bank of New York Mellon Corporation has a 52 week low of $58.19 and a 52 week high of $92.38. 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 stock has a market cap of $65.46 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.00 and a beta of 1.08. The firm's fifty day moving average is $84.68 and its 200 day moving average is $83.05.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period last year, the company earned $1.29 earnings per share. The business's revenue was up 5.9% on a year-over-year basis. As a group, equities 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 company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders 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 dividend yield of 2.05%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction dated 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 now directly owns 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 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 ninety days. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon 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.