Matthew Goff Investment Advisor LLC Trims Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Matthew Goff Investment Advisor LLC cut its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278,285 shares of the bank's stock after selling 3,720 shares during the quarter. Bank of New York Mellon comprises approximately 4.3% of Matthew Goff Investment Advisor LLC's portfolio, making the stock its 4th biggest position. Matthew Goff Investment Advisor LLC's holdings in Bank of New York Mellon were worth $23,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $1,150,462,000. FMR LLC raised its stake in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after purchasing an additional 1,526,686 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bank of New York Mellon by 9,538.9% during the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after purchasing an additional 1,385,434 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $90,955,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price target for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Wall Street Zen cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded up $1.72 during trading on Thursday, reaching $91.49. The company had a trading volume of 5,006,789 shares, compared to its average volume of 4,082,562. The firm has a market capitalization of $65.46 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.00 and a beta of 1.08. 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 firm's 50-day simple moving average is $84.93 and its 200 day simple moving average is $83.10. The Bank of New York Mellon Corporation has a 52 week low of $58.19 and a 52 week high of $92.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted 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. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 earnings per share. Sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In related news, 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 sale, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. 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 90 days. 0.14% of the stock is currently owned by corporate insiders.

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.