Delta Financial Advisors LLC Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Delta Financial Advisors LLC trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 46,575 shares of the bank’s stock after selling 198 shares during the period. Delta Financial Advisors LLC’s holdings in Bank of New York Mellon were worth $2,424,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $503,489,000. Moneta Group Investment Advisors LLC lifted its position in shares of Bank of New York Mellon by 74,433.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after buying an additional 6,106,537 shares in the last quarter. Barclays PLC raised its position in Bank of New York Mellon by 126.2% during the second quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock valued at $128,462,000 after purchasing an additional 1,609,730 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Bank of New York Mellon during the first quarter valued at approximately $66,916,000. Finally, Massachusetts Financial Services Co. MA raised its position in Bank of New York Mellon by 142.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after purchasing an additional 951,730 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.5 %

Shares of BK traded up $0.79 during mid-day trading on Thursday, reaching $55.25. 1,080,856 shares of the company’s stock traded hands, compared to its average volume of 3,986,887. The stock has a market cap of $41.60 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.15 and a beta of 1.12. The stock’s 50-day moving average is $55.73 and its two-hundred day moving average is $51.10. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month 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.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Bank of New York Mellon’s revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that The Bank of New York Mellon Co. will post 5.35 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 3.04%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BK. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America upped their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. UBS Group upped their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Finally, Citigroup upped their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Hold” and an average price target of $59.15.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

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.