City National Bank of Florida MSD Makes New $329,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

City National Bank of Florida MSD bought a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,277 shares of the bank's stock, valued at approximately $329,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Analysts LLC grew its holdings in shares of Bank of New York Mellon by 3.7% during the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock valued at $255,000 after purchasing an additional 119 shares during the last quarter. Cape Investment Advisory Inc. lifted its stake in 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 worth $90,000 after purchasing an additional 131 shares during the last quarter. Syon Capital LLC boosted its position in Bank of New York Mellon by 2.5% during the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after buying an additional 132 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Bank of New York Mellon by 0.4% during 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 shares of 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 worth $695,000 after buying an additional 139 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $88.94 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. 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 company's 50-day moving average is $81.61 and its 200 day moving average is $81.63. The stock has a market capitalization of $63.63 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the previous year, the firm posted $1.29 EPS. The business's revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.11%. Bank of New York Mellon's payout ratio is 30.62%.

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 sale, the executive vice president now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Morgan Stanley dropped their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Citigroup raised their target price 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. Evercore ISI upped their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Finally, StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

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.

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