Bank of New York Mellon Corp (BK) Shares Sold by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC trimmed its stake in Bank of New York Mellon Corp (NYSE:BK) by 3.0% during the first quarter, Holdings Channel reports. The fund owned 13,337 shares of the bank’s stock after selling 415 shares during the period. St. Johns Investment Management Company LLC’s holdings in Bank of New York Mellon were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Bank of New York Mellon by 1.5% during the 4th quarter. BlackRock Inc. now owns 54,968,976 shares of the bank’s stock valued at $2,587,391,000 after buying an additional 805,925 shares in the last quarter. FMR LLC lifted its stake in shares of Bank of New York Mellon by 36.4% during the 4th quarter. FMR LLC now owns 32,610,453 shares of the bank’s stock valued at $1,534,974,000 after buying an additional 8,695,718 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Bank of New York Mellon by 2.0% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,843,432 shares of the bank’s stock valued at $698,679,000 after buying an additional 292,800 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Bank of New York Mellon by 4.7% during the 4th quarter. Macquarie Group Ltd. now owns 14,529,096 shares of the bank’s stock valued at $683,885,000 after buying an additional 647,347 shares in the last quarter. Finally, Harris Associates L P lifted its stake in shares of Bank of New York Mellon by 5.4% during the 4th quarter. Harris Associates L P now owns 10,826,019 shares of the bank’s stock valued at $509,581,000 after buying an additional 552,515 shares in the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

Several research firms have issued reports on BK. Deutsche Bank increased their target price on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Vining Sparks reiterated a “buy” rating and issued a $55.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, January 23rd. Zacks Investment Research upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Finally, Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $52.00 in a research note on Wednesday, January 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $56.14.

In related news, Director Edward P. Garden sold 171,960 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $52.28, for a total transaction of $8,990,068.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward P. Garden sold 1,400,000 shares of the stock in a transaction on Friday, January 25th. The shares were sold at an average price of $53.64, for a total transaction of $75,096,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,713,437 shares of company stock worth $198,594,100 in the last three months. Insiders own 1.71% of the company’s stock.

Shares of NYSE:BK traded down $4.93 during trading on Wednesday, reaching $48.51. The company had a trading volume of 6,466,796 shares, compared to its average volume of 4,481,753. The firm has a market capitalization of $50.22 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.50 and a beta of 1.03. Bank of New York Mellon Corp has a 12 month low of $43.67 and a 12 month high of $58.22. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.02). The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. Bank of New York Mellon’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. As a group, equities research analysts expect that Bank of New York Mellon Corp will post 4.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Monday, April 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.31%. Bank of New York Mellon’s payout ratio is 26.60%.

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Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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

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