Yousif Capital Management LLC Cuts Position in The Bank of New York Mellon Co. (NYSE:BK)

Yousif Capital Management LLC lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,709 shares of the bank’s stock after selling 6,860 shares during the period. Yousif Capital Management LLC’s holdings in Bank of New York Mellon were worth $6,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bank of New York Mellon by 22.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after acquiring an additional 40,969 shares during the period. Trust Point Inc. purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $310,000. WCG Wealth Advisors LLC purchased a new position in Bank of New York Mellon during the 3rd quarter valued at about $1,552,000. Meeder Asset Management Inc. purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $1,298,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Bank of New York Mellon by 22.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after buying an additional 465,229 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent analyst reports. Evercore ISI lifted their target price 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. UBS Group boosted their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Citigroup boosted 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. Bank of America boosted their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, 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 report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the company’s 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 completion of the transaction, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock worth $5,459,897 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $57.17 on Friday. The business has a 50 day moving average of $55.97 and a 200 day moving average of $51.67. The company has a market capitalization of $43.04 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.25 and a beta of 1.12. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-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.

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 for the quarter, beating 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 firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued 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 dividend yield of 2.94%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

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.