First National Trust Co Has $1.17 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

First National Trust Co reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,539 shares of the bank’s stock after selling 529 shares during the quarter. First National Trust Co’s holdings in Bank of New York Mellon were worth $1,173,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. lifted its position in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares during the last quarter. Blue Trust Inc. increased its position in Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after buying an additional 527 shares during the period. Addison Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after buying an additional 754 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Bank of New York Mellon in the third quarter worth $49,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded up $0.40 during trading hours on Friday, hitting $57.00. 2,214,001 shares of the stock were exchanged, compared to its average volume of 3,813,908. The stock has a market capitalization of $42.91 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.23 and a beta of 1.11. The business’s 50-day moving average is $56.16 and its two-hundred day moving average is $52.30. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. Bank of New York Mellon’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 EPS. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.95%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were 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 in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Insiders have sold a total of 98,568 shares of company stock valued at $5,459,897 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley increased 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. UBS Group lifted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Evercore ISI upped their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Citigroup lifted their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, 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 research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.