M&T Bank Corp Has $5.78 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

M&T Bank Corp lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,992 shares of the bank’s stock after selling 16,425 shares during the period. M&T Bank Corp’s holdings in Bank of New York Mellon were worth $5,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Hartford Financial Management Inc. increased its position in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares during the last quarter. Addison Advisors LLC raised its position in Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after acquiring an additional 754 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Bank of New York Mellon in the third quarter valued at approximately $38,000. Blue Trust Inc. grew its position in Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth $49,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock valued at $5,459,897 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 0.8 %

NYSE BK opened at $57.48 on Tuesday. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. 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 stock has a market cap of $43.27 billion, a PE ratio of 14.02, a PEG ratio of 1.23 and a beta of 1.11. The firm has a 50-day simple moving average of $56.21 and a 200 day simple moving average of $52.53.

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. On average, research analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BK shares. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Jefferies Financial Group upped their price target 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. Citigroup raised their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. UBS Group upped their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, Evercore ISI lifted 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

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.