Vest Financial LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Vest Financial LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 513,808 shares of the bank's stock, valued at approximately $43,093,000. Vest Financial LLC owned approximately 0.07% of Bank of New York Mellon at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Parvin Asset Management LLC bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $25,000. Bellwether Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $28,000. REAP Financial Group LLC boosted its stake in shares of Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $33,000. Finally, South Plains Financial Inc. bought a new stake in Bank of New York Mellon during the 4th quarter valued at $34,000. Institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction that occurred 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 owns 87,542 shares of the company's stock, valued at $6,767,872.02. This represents a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Up 2.0%

BK traded up $1.75 on Friday, reaching $90.33. The company's stock had a trading volume of 2,263,342 shares, compared to its average volume of 4,073,191. The company has a market capitalization of $64.63 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week high of $90.63. The stock has a 50 day moving average of $82.74 and a two-hundred day moving average of $82.50. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

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

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is currently 30.62%.

Analyst Ratings Changes

Several research analysts have commented on BK shares. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Citigroup raised their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $91.85.

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.