Wilbanks Smith & Thomas Asset Management LLC Has $273,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Wilbanks Smith & Thomas Asset Management LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 57.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,244 shares of the bank’s stock after selling 7,175 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Bank of New York Mellon were worth $273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northern Trust Corp increased its position in Bank of New York Mellon by 8.2% in the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after buying an additional 715,421 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Bank of New York Mellon by 1.5% during the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock worth $373,505,000 after buying an additional 129,929 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Bank of New York Mellon by 0.9% in the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock valued at $281,912,000 after buying an additional 57,402 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bank of New York Mellon by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock valued at $272,425,000 after buying an additional 226,834 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Bank of New York Mellon by 10.0% during the third quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock worth $246,182,000 after acquiring an additional 524,912 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 4,498 shares of the firm’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 transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,568 shares of company stock worth $5,459,897. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BK shares. Evercore ISI raised their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Citigroup lifted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Bank of America raised their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley upped their target price on shares of 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Stock Performance

NYSE BK opened at $57.01 on Friday. The company has a market capitalization of $42.92 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.11. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The company has a 50-day simple moving average of $56.14 and a 200 day simple moving average of $52.19.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $1.13 EPS. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.95%. 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.