Trilogy Capital Inc. Trims Position in The Bank of New York Mellon Corporation $BK

Trilogy Capital Inc. lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 35,699 shares of the bank’s stock after selling 559 shares during the period. Trilogy Capital Inc.’s holdings in Bank of New York Mellon were worth $3,253,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Bank of New York Mellon during the first quarter valued at about $25,000. Alpine Bank Wealth Management bought a new position in shares of Bank of New York Mellon in the first quarter worth about $25,000. Cornerstone Planning Group LLC boosted its stake in shares of Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after acquiring an additional 196 shares during the period. Orion Capital Management LLC bought a new position in shares of Bank of New York Mellon in the first quarter worth about $32,000. Finally, Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon in the second quarter worth about $32,000. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $109.04 on Wednesday. The business has a fifty day moving average of $104.22 and a 200 day moving average of $92.50. The firm has a market capitalization of $76.90 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.04 and a beta of 1.14. The Bank of New York Mellon Corporation has a 1 year low of $70.41 and a 1 year high of $110.87. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the business earned $1.51 EPS. Bank of New York Mellon’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were paid a $0.53 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s payout ratio is currently 32.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BK shares. TD Cowen started coverage on Bank of New York Mellon in a research note on Thursday, September 25th. They set a “buy” rating for the company. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Morgan Stanley increased their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company increased their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Citigroup upped their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.92.

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.