Resources Management Corp CT ADV Cuts Stake in Bank of New York Mellon Corporation $BNY

Resources Management Corp CT ADV reduced its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 77.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,260 shares of the bank’s stock after selling 7,946 shares during the period. Resources Management Corp CT ADV’s holdings in Bank of New York Mellon were worth $262,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth about $27,000. MCF Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares during the period. Marquette Asset Management LLC lifted its holdings in shares of Bank of New York Mellon by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after acquiring an additional 166 shares during the period. Heritage Wealth Advisors purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth about $31,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 1.0%

NYSE BNY opened at $142.48 on Tuesday. Bank of New York Mellon Corporation has a one year low of $87.41 and a one year high of $146.45. The company’s 50 day moving average price is $135.59 and its 200 day moving average price is $124.14. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $97.80 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.05 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $1.58 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the sale, the insider owned 17,259 shares of the company’s stock, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the sale, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This trade represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Royal Bank Of Canada raised their price target on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a report on Friday, April 17th. Finally, Citigroup started coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.