Isthmus Partners LLC Sells 2,578 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Isthmus Partners LLC decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 185,475 shares of the bank’s stock after selling 2,578 shares during the period. The Bank of New York Mellon makes up about 1.7% of Isthmus Partners LLC’s holdings, making the stock its 24th largest holding. Isthmus Partners LLC’s holdings in The Bank of New York Mellon were worth $9,502,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dupont Capital Management Corp increased its holdings in shares of The Bank of New York Mellon by 18.9% in the second quarter. Dupont Capital Management Corp now owns 29,185 shares of the bank’s stock worth $1,495,000 after buying an additional 4,641 shares during the period. Fort Pitt Capital Group LLC increased its holdings in The Bank of New York Mellon by 7.8% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 414,163 shares of the bank’s stock valued at $21,218,000 after purchasing an additional 30,079 shares during the period. Vident Investment Advisory LLC increased its holdings in The Bank of New York Mellon by 70.7% during the 1st quarter. Vident Investment Advisory LLC now owns 23,474 shares of the bank’s stock valued at $1,110,000 after purchasing an additional 9,725 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in The Bank of New York Mellon by 134.5% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 131,988 shares of the bank’s stock valued at $6,242,000 after purchasing an additional 75,700 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in The Bank of New York Mellon by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,913,775 shares of the bank’s stock valued at $232,373,000 after purchasing an additional 1,893,751 shares during the period. 82.50% of the stock is owned by institutional investors.

In other The Bank of New York Mellon news, EVP Salla Francis J. La sold 25,000 shares of the stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $49.41, for a total transaction of $1,235,250.00. Following the completion of the transaction, the executive vice president now owns 69,299 shares of the company’s stock, valued at approximately $3,424,063.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on The Bank of New York Mellon from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley upped their target price on The Bank of New York Mellon from $46.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Credit Suisse Group upped their target price on The Bank of New York Mellon from $54.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Evercore ISI reiterated a “hold” rating and set a $52.00 target price on shares of The Bank of New York Mellon in a report on Friday, July 2nd. Finally, Keefe, Bruyette & Woods upgraded The Bank of New York Mellon from a “market perform” rating to an “outperform” rating and set a $59.00 target price on the stock in a report on Thursday, June 17th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $53.50.

Shares of NYSE:BK traded up $0.38 during midday trading on Wednesday, hitting $51.52. The company had a trading volume of 135,696 shares, compared to its average volume of 5,157,604. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $44.47 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.08 and a beta of 1.10. The Bank of New York Mellon Co. has a 12-month low of $32.65 and a 12-month high of $56.64. The company has a fifty day moving average of $52.22 and a two-hundred day moving average of $50.14.

The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, July 14th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.13. The Bank of New York Mellon had a return on equity of 9.27% and a net margin of 22.86%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The Bank of New York Mellon’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts expect that The Bank of New York Mellon Co. will post 4.16 earnings per share for the current fiscal year.

The Bank of New York Mellon declared that its board has approved a stock repurchase plan on Monday, June 28th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the bank to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Tuesday, July 27th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, July 26th. This is a positive change from The Bank of New York Mellon’s previous quarterly dividend of $0.31. The Bank of New York Mellon’s dividend payout ratio is presently 33.92%.

The Bank of New York Mellon Company Profile

The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Investment Services and Investment and Wealth Management. The Investment Services and Investment segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange.

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Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

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