Valley National Advisers Inc. Trims Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Valley National Advisers Inc. cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 76,606 shares of the bank’s stock after selling 4,589 shares during the quarter. Valley National Advisers Inc.’s holdings in Bank of New York Mellon were worth $4,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BK. Vanguard Group Inc. grew its stake in Bank of New York Mellon by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after acquiring an additional 4,293,751 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Bank of New York Mellon by 0.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock valued at $1,030,254,000 after purchasing an additional 144,162 shares during the period. Norges Bank acquired a new position in Bank of New York Mellon in the fourth quarter valued at $813,701,000. LSV Asset Management lifted its position in Bank of New York Mellon by 1.0% during the fourth quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock worth $383,723,000 after buying an additional 72,880 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Bank of New York Mellon by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock worth $351,775,000 after buying an additional 223,867 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.0 %

Shares of NYSE:BK traded down $0.03 during mid-day trading on Wednesday, hitting $60.47. 1,528,637 shares of the company traded hands, compared to its average volume of 3,695,877. The firm’s 50 day simple moving average is $58.57 and its 200 day simple moving average is $56.19. The firm has a market cap of $45.22 billion, a P/E ratio of 14.75, a PEG ratio of 1.20 and a beta of 1.09. 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 Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $60.91.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion for 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. On average, equities analysts anticipate 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 given a $0.42 dividend. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Insider Activity

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred 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 sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the transaction, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction dated Thursday, April 18th. The stock was 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 disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock worth $6,475,216 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BK shares. Keefe, Bruyette & Woods raised shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $70.00 in a research note on Thursday, June 27th. Bank of America upped their price target on shares of 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. Morgan Stanley lifted 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. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Jefferies Financial Group lifted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.15.

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.