The Bank of New York Mellon Co. (NYSE:BK) is Isthmus Partners LLC’s 5th Largest Position

Isthmus Partners LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,842 shares of the bank’s stock after selling 6,047 shares during the quarter. Bank of New York Mellon accounts for 2.0% of Isthmus Partners LLC’s portfolio, making the stock its 5th largest position. Isthmus Partners LLC’s holdings in Bank of New York Mellon were worth $16,948,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BK. B. Riley Wealth Advisors Inc. increased its holdings in Bank of New York Mellon by 13.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank’s stock worth $861,000 after buying an additional 1,803 shares during the last quarter. Tidal Investments LLC increased its holdings in Bank of New York Mellon by 20.6% in the first quarter. Tidal Investments LLC now owns 24,671 shares of the bank’s stock worth $1,421,000 after buying an additional 4,210 shares during the last quarter. Swedbank AB acquired a new position in Bank of New York Mellon in the first quarter worth approximately $35,514,000. Atria Investments Inc increased its holdings in Bank of New York Mellon by 17.2% in the first quarter. Atria Investments Inc now owns 82,343 shares of the bank’s stock worth $4,745,000 after buying an additional 12,064 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Bank of New York Mellon by 223.1% in the first quarter. Cetera Investment Advisers now owns 286,046 shares of the bank’s stock worth $16,482,000 after buying an additional 197,515 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $81.74 on Friday. The company has a market capitalization of $59.43 billion, a PE ratio of 17.77, a PEG ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $46.81 and a 12 month high of $82.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $75.87 and its 200 day simple moving average is $67.30.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BK shares. Morgan Stanley increased their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup boosted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Evercore ISI raised their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $78.15.

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.