Central Pacific Bank Trust Division Sells 3,374 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Central Pacific Bank Trust Division cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,669 shares of the bank’s stock after selling 3,374 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Bank of New York Mellon were worth $4,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. McClarren Financial Advisors Inc. boosted its stake in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Clearstead Trust LLC bought a new stake in Bank of New York Mellon in the second quarter worth $32,000. Fortitude Family Office LLC boosted its position in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the period. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $49,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon in the third quarter worth about $46,000. 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 $0.67 during midday trading on Friday, reaching $76.74. 1,391,222 shares of the company’s stock traded hands, compared to its average volume of 2,393,673. The Bank of New York Mellon Co. has a one year low of $51.86 and a one year high of $82.72. The stock has a 50 day moving average of $78.38 and a 200 day moving average of $70.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $55.80 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 0.91 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.45%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Insiders Place Their Bets

In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group raised their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.77.

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.