Folger Nolan Fleming Douglas Capital Management Inc. Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 17.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,246 shares of the bank’s stock after selling 3,100 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Bank of New York Mellon were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. HB Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $232,000. Matrix Asset Advisors Inc. NY boosted its position in shares of Bank of New York Mellon by 114.7% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 565,496 shares of the bank’s stock worth $23,587,000 after purchasing an additional 302,139 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Bank of New York Mellon by 74.0% during the 2nd quarter. Ritholtz Wealth Management now owns 21,876 shares of the bank’s stock worth $912,000 after purchasing an additional 9,303 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Bank of New York Mellon by 3.4% during the 2nd quarter. Raymond James Trust N.A. now owns 191,358 shares of the bank’s stock worth $7,982,000 after purchasing an additional 6,332 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. boosted its position in shares of Bank of New York Mellon by 8.8% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 83,458 shares of the bank’s stock worth $3,481,000 after buying an additional 6,785 shares in the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on shares of Bank of New York Mellon from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, July 1st. JPMorgan Chase & Co. decreased their price objective on shares of Bank of New York Mellon from $51.50 to $46.50 in a research report on Monday, July 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $42.00 to $46.00 and gave the stock a “hold” rating in a research report on Friday, August 12th. The Goldman Sachs Group decreased their price objective on shares of Bank of New York Mellon from $51.50 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 29th. Finally, Royal Bank of Canada cut their target price on shares of Bank of New York Mellon from $56.00 to $49.00 and set a “sector perform” rating for the company in a research note on Friday, July 1st. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.73.

Insider Transactions at Bank of New York Mellon

In other news, CEO Thomas P. Gibbons sold 105,062 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $43.24, for a total transaction of $4,542,880.88. Following the completion of the sale, the chief executive officer now owns 221,018 shares in the company, valued at approximately $9,556,818.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company’s stock.

Bank of New York Mellon Trading Down 2.9 %

Shares of NYSE BK traded down $1.19 on Friday, reaching $39.74. 178,188 shares of the company traded hands, compared to its average volume of 3,591,573. The Bank of New York Mellon Co. has a fifty-two week low of $39.78 and a fifty-two week high of $64.63. The company has a 50 day moving average of $43.17 and a 200 day moving average of $44.82. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $32.11 billion, a PE ratio of 10.39, a P/E/G ratio of 1.67 and a beta of 1.11.

Bank of New York Mellon (NYSE:BKGet Rating) last posted its quarterly earnings data on Friday, July 15th. The bank reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.09). Bank of New York Mellon had a net margin of 20.61% and a return on equity of 9.49%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same period in the prior year, the company earned $1.13 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 4.22 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Monday, July 25th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.72%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.34. Bank of New York Mellon’s payout ratio is presently 37.56%.

Bank of New York Mellon Profile

(Get Rating)

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, prime brokerage, and data analytics.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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