First Hawaiian Bank Sells 448 Shares of The Bank of New York Mellon Corporation $BK

First Hawaiian Bank trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,638 shares of the bank’s stock after selling 448 shares during the period. First Hawaiian Bank’s holdings in Bank of New York Mellon were worth $4,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $220,000. Focus Partners Wealth raised its stake in shares of Bank of New York Mellon by 38.3% during the fourth quarter. Focus Partners Wealth now owns 33,349 shares of the bank’s stock valued at $2,600,000 after acquiring an additional 9,231 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Bank of New York Mellon by 1.3% during the fourth quarter. Gotham Asset Management LLC now owns 28,702 shares of the bank’s stock valued at $2,205,000 after acquiring an additional 369 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Bank of New York Mellon by 21.7% during the fourth quarter. Janus Henderson Group PLC now owns 124,273 shares of the bank’s stock valued at $9,552,000 after acquiring an additional 22,179 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bank of New York Mellon by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 116,123 shares of the bank’s stock worth $8,922,000 after buying an additional 1,822 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, 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 filing with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $105.57 on Friday. The stock has a market cap of $74.45 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The Bank of New York Mellon Corporation has a fifty-two week low of $68.01 and a fifty-two week high of $106.57. The firm’s 50-day simple moving average is $100.86 and its two-hundred day simple moving average is $90.35.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. Analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s dividend payout ratio is currently 32.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BK shares. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Finally, Truist Financial increased their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.62.

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.