The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 8.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,124 shares of the bank's stock after selling 12,299 shares during the period. Janney Montgomery Scott LLC's holdings in Bank of New York Mellon were worth $10,914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BK. Mission Wealth Management LP increased its holdings in shares of Bank of New York Mellon by 5.1% during the first quarter. Mission Wealth Management LP now owns 15,506 shares of the bank's stock valued at $1,300,000 after acquiring an additional 756 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Bank of New York Mellon by 2.8% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 26,202 shares of the bank's stock valued at $2,198,000 after purchasing an additional 711 shares in the last quarter. Hanson & Doremus Investment Management increased its stake in Bank of New York Mellon by 37.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 2,202 shares of the bank's stock valued at $185,000 after purchasing an additional 600 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Bank of New York Mellon in the first quarter worth $201,000. Finally, Optas LLC lifted its stake in shares of Bank of New York Mellon by 5.4% during the first quarter. Optas LLC now owns 3,375 shares of the bank's stock worth $283,000 after buying an additional 172 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BK. Citigroup upped their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Evercore ISI boosted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. Morgan Stanley raised 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Wells Fargo & Company upped their target price on 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. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Bank of New York Mellon 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 down $0.02 during mid-day trading on Friday, hitting $91.58. The company had a trading volume of 6,110,596 shares, compared to its average volume of 4,095,880. The company has a market capitalization of $65.52 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a 12-month low of $58.19 and a 12-month high of $92.64. The company's fifty day moving average is $85.50 and its 200-day moving average is $83.25. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the previous year, the business posted $1.29 EPS. The business's revenue was up 5.9% compared to the same quarter last year. Equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction that occurred on 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 now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction 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 completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% 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 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

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.