Fulton Bank N.A. Sells 9,314 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Fulton Bank N.A. reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 41.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,072 shares of the bank’s stock after selling 9,314 shares during the quarter. Fulton Bank N.A.’s holdings in Bank of New York Mellon were worth $1,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Private Advisor Group LLC raised its holdings in Bank of New York Mellon by 1.6% during the 2nd quarter. Private Advisor Group LLC now owns 51,584 shares of the bank’s stock valued at $3,089,000 after buying an additional 814 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Bank of New York Mellon by 2.0% in the second quarter. Los Angeles Capital Management LLC now owns 35,939 shares of the bank’s stock valued at $2,152,000 after acquiring an additional 717 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Bank of New York Mellon by 9.8% in the 2nd quarter. Wedbush Securities Inc. now owns 19,984 shares of the bank’s stock worth $1,197,000 after acquiring an additional 1,782 shares during the last quarter. Choreo LLC grew its holdings in Bank of New York Mellon by 327.5% during the 2nd quarter. Choreo LLC now owns 52,272 shares of the bank’s stock valued at $3,142,000 after purchasing an additional 40,045 shares during the last quarter. Finally, Andra AP fonden grew its holdings in Bank of New York Mellon by 58.6% during the 2nd quarter. Andra AP fonden now owns 155,300 shares of the bank’s stock valued at $9,301,000 after purchasing an additional 57,400 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BK shares. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Citigroup boosted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. UBS Group increased their target price 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, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley reduced their price target on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Bank of New York Mellon Price Performance

NYSE BK opened at $77.88 on Thursday. The company has a market cap of $56.62 billion, a PE ratio of 16.93, a P/E/G ratio of 0.91 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.21 and a 52-week high of $82.72. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50 day moving average price is $78.50 and its 200-day moving average price is $71.37.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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.