Leisure Capital Management Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Leisure Capital Management reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,610 shares of the bank’s stock after selling 2,788 shares during the period. Leisure Capital Management’s holdings in Bank of New York Mellon were worth $917,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BK. Quent Capital LLC boosted its holdings in shares of Bank of New York Mellon by 3.8% in the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after purchasing an additional 182 shares during the last quarter. Hartford Financial Management Inc. boosted its holdings in shares of Bank of New York Mellon by 41.4% in the 4th 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. Commonwealth Retirement Investments LLC boosted its holdings in shares of Bank of New York Mellon by 0.8% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock valued at $1,445,000 after purchasing an additional 221 shares during the last quarter. Arjuna Capital boosted its holdings in shares of Bank of New York Mellon by 0.5% in the 3rd quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock valued at $2,066,000 after purchasing an additional 251 shares during the last quarter. Finally, BRYN MAWR TRUST Co raised its stake in shares of Bank of New York Mellon by 3.3% in the 3rd quarter. BRYN MAWR TRUST Co now owns 8,000 shares of the bank’s stock valued at $341,000 after acquiring an additional 258 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.2 %

Shares of NYSE:BK traded up $0.14 during midday trading on Friday, reaching $57.32. The company had a trading volume of 2,058,025 shares, compared to its average volume of 3,589,079. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The stock has a market capitalization of $43.15 billion, a P/E ratio of 13.98, a PEG ratio of 1.23 and a beta of 1.12. The stock’s fifty day moving average price is $56.01 and its 200-day moving average price is $51.77.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the firm posted $1.13 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

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 transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock worth $5,459,897 in the last ninety days. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on BK shares. Jefferies Financial Group boosted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Citigroup upped their price target 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. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

About Bank of New York Mellon

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.