Leisure Capital Management Sells 2,788 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Leisure Capital Management lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 13.7% during the fourth quarter, Holdings Channel reports. The fund owned 17,610 shares of the bank’s stock after selling 2,788 shares during the period. Leisure Capital Management’s holdings in Bank of New York Mellon were worth $917,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI grew its holdings in Bank of New York Mellon by 1.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 35,475 shares of the bank’s stock worth $1,846,000 after acquiring an additional 632 shares during the last quarter. Truist Financial Corp grew its holdings in Bank of New York Mellon by 33.2% during the 4th quarter. Truist Financial Corp now owns 1,297,698 shares of the bank’s stock worth $67,545,000 after acquiring an additional 323,343 shares during the last quarter. Spinnaker Trust bought a new stake in Bank of New York Mellon during the 4th quarter worth about $209,000. O Brien Greene & Co. Inc bought a new stake in Bank of New York Mellon during the 4th quarter worth about $229,000. Finally, Stanley Laman Group Ltd. bought a new stake in Bank of New York Mellon during the 4th quarter worth about $462,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction on Friday, April 19th. The shares were 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 approximately $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The disclosure for this sale can be found here. Insiders have sold a total of 98,568 shares of company stock worth $5,459,897 over the last ninety days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BK. Royal Bank of Canada reaffirmed 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. Bank of America raised their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Jefferies Financial Group raised their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Citigroup raised their target price on shares of 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. Finally, UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Stock Up 0.2 %

BK stock traded up $0.14 during mid-day trading on Friday, hitting $57.32. 2,058,025 shares of the company were exchanged, compared to its average volume of 3,589,079. The firm has a market cap of $43.15 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.23 and a beta of 1.12. 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 debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The firm’s 50 day simple moving average is $56.01 and its 200 day simple moving average is $51.77.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the business posted $1.13 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.93%. Bank of New York Mellon’s payout ratio is 40.98%.

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.