Yousif Capital Management LLC Sells 6,860 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Yousif Capital Management LLC lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,709 shares of the bank’s stock after selling 6,860 shares during the quarter. Yousif Capital Management LLC’s holdings in Bank of New York Mellon were worth $6,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BK. Northern Trust Corp raised 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 purchasing an additional 715,421 shares during the last quarter. Victory Capital Management Inc. raised its position in Bank of New York Mellon by 1.5% in the 3rd quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock valued at $373,505,000 after purchasing an additional 129,929 shares during the last quarter. Legal & General Group Plc raised its position in Bank of New York Mellon by 0.9% in the 3rd quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock valued at $281,912,000 after purchasing an additional 57,402 shares during the last quarter. Bank of New York Mellon Corp raised its position in Bank of New York Mellon by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock valued at $272,425,000 after purchasing an additional 226,834 shares during the last quarter. Finally, Invesco Ltd. raised its position in Bank of New York Mellon by 10.0% in the 3rd quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock valued at $246,182,000 after purchasing an additional 524,912 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated 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 directly owns 100,404 shares in the company, valued at $5,637,684.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated 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 directly owns 100,404 shares in the company, valued at $5,637,684.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,568 shares of company stock valued at $5,459,897. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 1.3 %

Shares of Bank of New York Mellon stock opened at $57.17 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The business has a fifty day simple moving average of $55.97 and a 200 day simple moving average of $51.67. The stock has a market cap of $43.04 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.94%. Bank of New York Mellon’s payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BK shares. Jefferies Financial Group lifted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Bank of America lifted 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 report on Wednesday, April 17th. Evercore ISI lifted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Morgan Stanley lifted their target price on 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. 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, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

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.