Calamos Advisors LLC Buys 100,736 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Calamos Advisors LLC lifted its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 54.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,123 shares of the bank's stock after buying an additional 100,736 shares during the quarter. Calamos Advisors LLC's holdings in Bank of New York Mellon were worth $23,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon during the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon during the 1st quarter valued at $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at $28,000. Finally, REAP Financial Group LLC raised its stake in Bank of New York Mellon by 123.2% during 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 during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider owned 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owned 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.16 during trading hours on Friday, hitting $91.93. The stock had a trading volume of 2,408,224 shares, compared to its average volume of 4,121,885. The company's fifty day moving average is $88.06 and its two-hundred day moving average is $83.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The Bank of New York Mellon Corporation has a 52 week low of $59.19 and a 52 week high of $92.85. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.03 and a beta of 1.07.

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 the consensus estimate 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 business 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 firm earned $1.29 EPS. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company 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. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Wall Street Analyst Weigh In

Several research firms recently commented on BK. Citigroup upped their target price on shares of 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 upped their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday. Royal Bank Of Canada restated 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. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Finally, Truist Financial cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.08.

About Bank of New York Mellon

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.