SeaCrest Wealth Management LLC Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

SeaCrest Wealth Management LLC reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 31.8% in the 1st quarter, Holdings Channel reports. The fund owned 6,669 shares of the bank’s stock after selling 3,105 shares during the period. SeaCrest Wealth Management LLC’s holdings in Bank of New York Mellon were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of BK. United Services Automobile Association raised its holdings in shares of Bank of New York Mellon by 6.9% during the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after acquiring an additional 1,640 shares during the last quarter. Searle & CO. acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $234,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after purchasing an additional 40,969 shares during the last quarter. Janney Capital Management LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $243,000. Finally, Trust Point Inc. acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $310,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other news, VP Catherine Keating sold 54,070 shares of the 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 completion of the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now owns 144,721 shares in the company, valued at $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock worth $6,475,216 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods raised shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and increased their price target for the company from $60.00 to $70.00 in a research note on Thursday, June 27th. 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 report on Wednesday, April 17th. Finally, Morgan Stanley lifted their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.15.

Bank of New York Mellon Trading Up 0.6 %

BK opened at $60.50 on Wednesday. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $60.87. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $58.51 and a 200-day simple moving average of $56.13. The firm has a market cap of $45.24 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.20 and a beta of 1.09.

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, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

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.