Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,127 shares of the bank’s stock after selling 500 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Bank of New York Mellon were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Hartford Financial Management Inc. raised its holdings in shares of Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares during the last quarter. Addison Advisors LLC increased its holdings in Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after buying an additional 754 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $38,000. Blue Trust Inc. increased its holdings in Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $49,000. 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 other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The shares were 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 owns 78,350 shares in the company, valued at $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 Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The shares were 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 owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock worth $5,459,897 over the last 90 days. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded up $0.14 during midday trading on Friday, reaching $57.32. 2,058,025 shares of the company were exchanged, compared to its average volume of 3,589,079. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average is $56.01 and its two-hundred day moving average is $51.77. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The stock has a market cap of $43.15 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12.

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, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.93%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Analyst Ratings Changes

BK has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Bank of America increased their price objective on shares of 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. UBS Group increased their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, Citigroup increased their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.