Delta Asset Management LLC TN Sells 4,689 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Delta Asset Management LLC TN trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.4% in the 4th quarter, Holdings Channel reports. The fund owned 325,424 shares of the bank’s stock after selling 4,689 shares during the quarter. Bank of New York Mellon accounts for about 1.6% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 21st biggest position. Delta Asset Management LLC TN’s holdings in Bank of New York Mellon were worth $16,938,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of Bank of New York Mellon by 27.9% in the 4th quarter. Franklin Resources Inc. now owns 731,241 shares of the bank’s stock worth $38,061,000 after purchasing an additional 159,698 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Bank of New York Mellon by 12.7% in the fourth quarter. Brandes Investment Partners LP now owns 1,752,716 shares of the bank’s stock worth $91,229,000 after acquiring an additional 197,532 shares during the last quarter. Columbia Asset Management increased its position in Bank of New York Mellon by 1.4% during the fourth quarter. Columbia Asset Management now owns 25,645 shares of the bank’s stock valued at $1,335,000 after acquiring an additional 350 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Bank of New York Mellon in the fourth quarter valued at about $257,000. Finally, Trexquant Investment LP grew its stake in shares of Bank of New York Mellon by 171.7% during the 4th quarter. Trexquant Investment LP now owns 106,341 shares of the bank’s stock valued at $5,535,000 after purchasing an additional 67,209 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.2 %

BK stock traded down $0.11 during midday trading on Wednesday, reaching $58.97. The company’s stock had a trading volume of 3,219,916 shares, compared to its average volume of 3,757,796. The firm has a market capitalization of $44.10 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.21 and a beta of 1.11. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $59.70. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a fifty day simple moving average of $56.83 and a two-hundred day simple moving average of $53.76.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.85%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Evercore ISI lifted 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. Citigroup upped their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Bank of America lifted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley upped their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.17.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the 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 transaction, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the transaction, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock valued at $6,475,216 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

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.