Agate Pass Investment Management LLC Grows Stake in The Bank of New York Mellon Co. (NYSE:BK)

Agate Pass Investment Management LLC grew its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 45.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,240 shares of the bank's stock after purchasing an additional 6,590 shares during the period. Agate Pass Investment Management LLC's holdings in Bank of New York Mellon were worth $1,781,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Capital Analysts LLC lifted its stake in Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after purchasing an additional 119 shares in the last quarter. Cape Investment Advisory Inc. raised its stake in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock valued at $90,000 after acquiring an additional 131 shares in the last quarter. Syon Capital LLC raised its stake in shares of Bank of New York Mellon by 2.5% in the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after acquiring an additional 132 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after buying an additional 133 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after buying an additional 139 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley increased their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday. Evercore ISI raised their price objective on 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. Citigroup raised their price target on 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 lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 55,115 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Trading Up 0.8%

Shares of NYSE BK traded up $0.67 during midday trading on Tuesday, reaching $89.65. The stock had a trading volume of 865,194 shares, compared to its average volume of 4,054,641. The company's 50 day moving average price is $82.44 and its 200 day moving average price is $82.34. The firm has a market cap of $64.14 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63.

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 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. The company's revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.10%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Bank of New York Mellon Company 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.