51,050 Shares in The Bank of New York Mellon Corporation (NYSE:BK) Purchased by TrueMark Investments LLC

TrueMark Investments LLC purchased a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 51,050 shares of the bank's stock, valued at approximately $4,282,000.

A number of other hedge funds also recently modified their holdings of BK. Ridgecrest Wealth Partners LLC bought a new stake in Bank of New York Mellon in the first quarter valued at approximately $217,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Bank of New York Mellon by 6.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 77,278 shares of the bank's stock worth $6,481,000 after purchasing an additional 4,866 shares during the period. 1858 Wealth Management LLC boosted its stake in shares of Bank of New York Mellon by 6.1% in the 1st quarter. 1858 Wealth Management LLC now owns 4,226 shares of the bank's stock valued at $354,000 after purchasing an additional 243 shares during the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the first quarter worth $284,000. Finally, Heartland Bank & Trust Co acquired a new stake in shares of Bank of New York Mellon during the first quarter worth $773,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 1.8%

Shares of Bank of New York Mellon stock traded up $1.60 during trading hours on Tuesday, reaching $91.23. The company's stock had a trading volume of 3,910,752 shares, compared to its average volume of 4,087,686. The company has a market capitalization of $65.27 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.00 and a beta of 1.08. The stock's fifty day simple moving average is $86.01 and its two-hundred day simple moving average is $83.40. The Bank of New York Mellon Corporation has a one year low of $58.19 and a one year high of $92.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The firm's revenue was up 5.9% compared to the same quarter last year. On average, research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.06%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Analysts Set New Price Targets

A number of analysts have commented on BK shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Citigroup boosted their price objective 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. Evercore ISI raised their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.85.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value 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 represents a 35.25% decrease in their ownership of the stock. 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 dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

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.