The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. cut its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 44.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,648 shares of the bank's stock after selling 3,750 shares during the period. Wesbanco Bank Inc.'s holdings in Bank of New York Mellon were worth $390,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. O Shaughnessy Asset Management LLC raised its holdings in shares of Bank of New York Mellon by 11.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after buying an additional 82,671 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after purchasing an additional 17,457 shares during the last quarter. Benson Investment Management Company Inc. bought a new stake in shares of Bank of New York Mellon during the first quarter worth $5,259,000. NEOS Investment Management LLC raised its position in shares of Bank of New York Mellon by 31.6% during the 4th quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank's stock valued at $3,584,000 after acquiring an additional 11,200 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its stake in Bank of New York Mellon by 2.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 324,440 shares of the bank's stock worth $24,927,000 after acquiring an additional 6,307 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Analyst Ratings Changes

BK has been the topic of a number of research reports. Morgan Stanley boosted their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. 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. 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, Citigroup increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $91.85.

Insider Transactions at Bank of New York Mellon

In other news, 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

BK stock traded down $0.37 on Thursday, hitting $89.19. The company had a trading volume of 810,299 shares, compared to its average volume of 4,051,624. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $90.63. The stock has a market cap of $63.81 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 0.97 and a beta of 1.08. The stock's 50-day simple moving average is $83.52 and its 200 day simple moving average is $82.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

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.