The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,576 shares of the bank’s stock after selling 3,796 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Bank of New York Mellon were worth $16,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Syon Capital LLC raised its holdings in shares of Bank of New York Mellon by 2.5% during the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock worth $417,000 after purchasing an additional 132 shares during the period. Quantessence Capital LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $496,000. J. Safra Sarasin Holding AG raised its stake in Bank of New York Mellon by 419.5% during the fourth quarter. J. Safra Sarasin Holding AG now owns 290,453 shares of the bank’s stock worth $22,316,000 after acquiring an additional 234,538 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in Bank of New York Mellon by 1.7% in the fourth quarter. OneDigital Investment Advisors LLC now owns 25,376 shares of the bank’s stock worth $1,950,000 after acquiring an additional 435 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its stake in Bank of New York Mellon by 2.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 324,440 shares of the bank’s stock valued at $24,927,000 after acquiring an additional 6,307 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $78.58 on Friday. The Bank of New York Mellon Co. has a twelve month low of $56.08 and a twelve month high of $90.34. 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 firm has a 50-day moving average of $81.89 and a two-hundred day moving average of $80.43. The company has a market capitalization of $56.42 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 earnings per share. As a group, 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.39%. Bank of New York Mellon’s dividend payout ratio is currently 30.62%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of research reports. Evercore ISI increased their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Truist Financial reduced their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating for the company in a report on Monday, April 14th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reissued 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. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.31.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares of the company’s stock, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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.