Cary Street Partners Financial LLC Acquires New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Cary Street Partners Financial LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,336 shares of the bank's stock, valued at approximately $2,100,000.

A number of other institutional investors have also recently modified their holdings of the stock. Czech National Bank grew its stake in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock worth $12,112,000 after buying an additional 7,316 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after purchasing an additional 82,671 shares in the last quarter. Fifth Third Bancorp lifted its stake in Bank of New York Mellon by 9.2% during the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock worth $7,226,000 after purchasing an additional 7,935 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 6.5% in the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after purchasing an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $342,000. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last three months. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Up 1.2%

Bank of New York Mellon stock traded up $1.00 during midday trading on Monday, reaching $86.91. The stock had a trading volume of 1,549,171 shares, compared to its average volume of 3,995,397. The company has a fifty day moving average price of $80.67 and a two-hundred day moving average price of $80.98. The company has a market capitalization of $62.18 billion, a P/E ratio of 14.95, a PEG ratio of 0.97 and a beta of 1.05. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12 month low of $57.18 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business's revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.16%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BK shares. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Truist Financial decreased their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Barclays increased their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

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.