Chevy Chase Trust Holdings LLC Has $24.35 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Chevy Chase Trust Holdings LLC lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 422,636 shares of the bank’s stock after selling 9,382 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Bank of New York Mellon worth $24,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. increased its holdings in Bank of New York Mellon by 82.1% in the first quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after buying an additional 230 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at $28,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $32,000. Finally, Hartford Financial Management Inc. increased its position in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.1 %

Bank of New York Mellon stock opened at $60.76 on Thursday. The business has a 50 day moving average price of $58.95 and a two-hundred day moving average price of $56.52. 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 Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $60.91. The stock has a market cap of $45.44 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.19 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 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during 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 was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.47 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the sale, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $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 over the last quarter. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BK shares. Morgan Stanley upped their price target on 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. Keefe, Bruyette & Woods raised shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $70.00 in a research report on Thursday, June 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Jefferies Financial Group lifted their target price on shares of 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. Finally, Bank of America upped their price target on shares of 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. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $61.15.

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.