Alpha Omega Wealth Management LLC Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Alpha Omega Wealth Management LLC lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.3% in the fourth quarter, Holdings Channel reports. The fund owned 56,256 shares of the bank’s stock after selling 751 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Bank of New York Mellon were worth $2,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bank of New York Mellon by 22.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after acquiring an additional 40,969 shares during the period. Trust Point Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $310,000. WCG Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at approximately $1,552,000. Meeder Asset Management Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $1,298,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Bank of New York Mellon by 22.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after buying an additional 465,229 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded down $1.09 during trading on Wednesday, hitting $54.00. 8,232,834 shares of the stock were exchanged, compared to its average volume of 3,131,460. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28. The company has a market capitalization of $40.65 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12. The company’s fifty day simple moving average is $55.75 and its 200-day simple moving average is $51.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. Bank of New York Mellon’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.33 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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. This represents a $1.68 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is 42.32%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BK. Citigroup raised their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. UBS Group raised their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Evercore ISI raised their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.72.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon 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 owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.