USA Financial Formulas Sells 683 Shares of The Bank of New York Mellon Co. (NYSE:BK)

USA Financial Formulas decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,490 shares of the bank’s stock after selling 683 shares during the period. Bank of New York Mellon comprises approximately 0.3% of USA Financial Formulas’ holdings, making the stock its 17th largest holding. USA Financial Formulas’ holdings in Bank of New York Mellon were worth $1,832,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its stake in Bank of New York Mellon by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after acquiring an additional 165 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of Bank of New York Mellon by 3.8% in the 2nd quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock valued at $281,000 after purchasing an additional 171 shares during the period. Greenleaf Trust raised its holdings in shares of Bank of New York Mellon by 0.7% in the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock worth $1,633,000 after buying an additional 187 shares in the last quarter. 1858 Wealth Management LLC lifted its position in shares of Bank of New York Mellon by 4.0% during the 2nd quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock worth $291,000 after buying an additional 188 shares during the period. Finally, Semmax Financial Advisors Inc. boosted its stake in Bank of New York Mellon by 1.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock valued at $591,000 after buying an additional 189 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BK. UBS Group increased their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup boosted their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.92.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 1.1 %

NYSE BK opened at $74.02 on Thursday. The stock has a market capitalization of $55.35 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $74.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average of $67.95 and a 200-day moving average of $62.18.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the company earned $1.38 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

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.