M&T Bank Corp Trims Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

M&T Bank Corp lowered its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 12.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,992 shares of the bank's stock after selling 16,425 shares during the quarter. M&T Bank Corp's holdings in Bank of New York Mellon were worth $5,777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Searle & CO. bought a new stake in Bank of New York Mellon in the 4th quarter worth approximately $234,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bank of New York Mellon by 22.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank's stock worth $11,596,000 after buying an additional 40,969 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $310,000. WCG Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter valued at about $1,552,000. Finally, Meeder Asset Management Inc. purchased a new position in Bank of New York Mellon in the fourth quarter worth about $1,298,000. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the firm's stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares of the company's stock, valued at $5,637,684.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares of the company's stock, valued at $4,299,848. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,568 shares of company stock valued at $5,459,897. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on BK shares. Citigroup increased their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, February 14th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an "equal weight" rating in a report on Thursday, April 18th. Evercore ISI increased their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an "in-line" rating in a report on Thursday, April 4th. Bank of America lifted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Finally, UBS Group upped their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.17.

Bank of New York Mellon Stock Down 0.1 %

Shares of BK stock traded down $0.08 during mid-day trading on Tuesday, hitting $57.40. 2,801,237 shares of the stock traded hands, compared to its average volume of 3,875,974. The stock's fifty day moving average is $56.25 and its two-hundred day moving average is $52.64. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The stock has a market cap of $43.21 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the business earned $1.13 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.93%. Bank of New York Mellon's payout ratio is 40.98%.

Bank of New York Mellon Company 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.