Summit Trail Advisors LLC Reduces Position in The Bank of New York Mellon Co. (NYSE:BK)

Summit Trail Advisors LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 17.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,458 shares of the bank’s stock after selling 930 shares during the period. Summit Trail Advisors LLC’s holdings in Bank of New York Mellon were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James & Associates increased its stake in shares of Bank of New York Mellon by 5.9% in the third quarter. Raymond James & Associates now owns 470,999 shares of the bank’s stock worth $20,088,000 after purchasing an additional 26,219 shares in the last quarter. Advisor Partners II LLC lifted its position in shares of Bank of New York Mellon by 5.0% in the third quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock valued at $1,261,000 after acquiring an additional 1,412 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Bank of New York Mellon by 0.5% in the third quarter. TD Asset Management Inc now owns 251,208 shares of the bank’s stock worth $10,714,000 after acquiring an additional 1,145 shares during the period. TIAA Trust National Association purchased a new stake in shares of Bank of New York Mellon during the third quarter worth about $1,137,000. Finally, ING Groep NV bought a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $312,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $57.51 on Thursday. The company’s 50-day simple moving average is $56.25 and its two-hundred day simple 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 one year low of $39.65 and a one year high of $58.28. The company has a market capitalization of $43.30 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the company posted $1.13 EPS. Bank of New York Mellon’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s 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 sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on BK. Morgan Stanley increased their price objective 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 boosted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Bank of America lifted their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group increased their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $60.17.

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.