Alpha Omega Wealth Management LLC Sells 751 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Alpha Omega Wealth Management LLC lowered its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Quilter Plc bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $446,850,000. Brown Brothers Harriman & Co. lifted its holdings in Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after buying an additional 300 shares in the last quarter. Hartford Financial Management Inc. lifted its holdings in Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Bank of New York Mellon during the 1st quarter valued at about $36,000. Finally, Blue Trust Inc. lifted its holdings in Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank of New York Mellon Stock Down 2.0 %

Shares of Bank of New York Mellon stock traded down $1.09 on Wednesday, reaching $54.00. The stock had a trading volume of 8,232,834 shares, compared to its average volume of 3,131,460. The company has a 50 day moving average price of $55.75 and a 200 day moving average price of $51.08. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The stock has a market capitalization of $40.65 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its earnings results 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 the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. Bank of New York Mellon’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 42.32%.

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.