Farther Finance Advisors LLC Has $750,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Farther Finance Advisors LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 88.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,952 shares of the bank's stock after acquiring an additional 4,213 shares during the quarter. Farther Finance Advisors LLC's holdings in Bank of New York Mellon were worth $750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $1,150,462,000. FMR LLC boosted its stake in shares of Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after buying an additional 3,732,862 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after buying an additional 1,526,686 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after buying an additional 1,385,434 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $90,955,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction 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. This trade represents a 35.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated 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 sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,114 shares of company stock valued at $7,869,795. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BK. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. 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 research note on Tuesday, April 1st. Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Finally, Citigroup raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.85.

Bank of New York Mellon Stock Performance

Shares of BK traded down $1.21 during trading hours on Friday, reaching $88.50. 3,527,284 shares of the company's stock traded hands, compared to its average volume of 4,067,348. The firm has a market capitalization of $63.32 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.08. 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 Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63. The business's fifty day simple moving average is $84.13 and its two-hundred day simple moving average is $82.92.

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 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The company 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 company's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. Analysts predict 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.