Poehling Capital Management INC. Sells 1,783 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Poehling Capital Management INC. reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,861 shares of the bank’s stock after selling 1,783 shares during the period. Poehling Capital Management INC.’s holdings in Bank of New York Mellon were worth $2,986,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. WINTON GROUP Ltd purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $20,104,000. Wilkins Investment Counsel Inc. lifted its position in Bank of New York Mellon by 6.9% during the second quarter. Wilkins Investment Counsel Inc. now owns 18,700 shares of the bank’s stock valued at $1,120,000 after buying an additional 1,200 shares during the period. Williams Financial LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $587,000. Stolper Co grew its position in shares of Bank of New York Mellon by 3.2% in the 2nd quarter. Stolper Co now owns 81,051 shares of the bank’s stock worth $4,854,000 after buying an additional 2,510 shares during the period. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $352,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BK. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Monday, July 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.14.

Bank of New York Mellon Stock Down 0.5 %

BK stock opened at $68.70 on Friday. The business’s 50-day moving average is $64.99 and its two-hundred day moving average is $60.14. The company has a market cap of $50.70 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.17 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $69.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter last year, the firm posted $1.38 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts forecast that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a $0.47 dividend. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a dividend yield of 2.74%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

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.