Apella Capital LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,238 shares of the bank's stock, valued at approximately $257,000.
Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $1,150,462,000. FMR LLC raised its position in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after acquiring an additional 3,732,862 shares in the last quarter. Northern Trust Corp raised its position in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares in the last quarter. GAMMA Investing LLC raised its position in Bank of New York Mellon by 9,538.9% during the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after acquiring an additional 1,385,434 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $90,955,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Wells Fargo & Company lifted 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 report on Monday, March 3rd. Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Evercore ISI boosted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Finally, Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their target price for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.85.
Read Our Latest Stock Report on BK
Bank of New York Mellon Stock Performance
Shares of NYSE:BK opened at $88.46 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business's 50 day moving average price is $82.74 and its 200-day moving average price is $82.50. The firm has a market capitalization of $63.29 billion, a PE ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63.
Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates 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 business's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.
Bank of New York Mellon Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.
Insiders Place Their Bets
In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction on 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 transaction, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 Profile
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Free Report)
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.
Read More
Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BK - Free Report).
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