Mezzasalma Advisors LLC Reduces Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Mezzasalma Advisors LLC reduced its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,322 shares of the bank’s stock after selling 239 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Bank of New York Mellon were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the first quarter worth about $25,000. Parvin Asset Management LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth approximately $28,000. REAP Financial Group LLC grew its position in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Finally, Transce3nd LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth approximately $33,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on BK shares. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 3rd. Wall Street Zen downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Truist Financial lowered Bank of New York Mellon from a “buy” rating to a “hold” rating and increased their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.85.

Insiders Place Their Bets

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now directly owns 21,679 shares of the company’s stock, valued at $1,680,122.50. This represents a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,114 shares of company stock worth $7,869,795. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $89.75 on Wednesday. The business’s 50-day moving average is $84.68 and its two-hundred day moving average is $83.05. The company has a market capitalization of $64.21 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.03 and a beta of 1.08. The Bank of New York Mellon Corporation has a fifty-two week low of $57.79 and a fifty-two week high of $90.63. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last issued 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 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 company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 earnings per share. Research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business 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 of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.09%. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

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.