Heartland Bank & Trust Co Acquires Shares of 9,217 The Bank of New York Mellon Corporation (NYSE:BK)

Heartland Bank & Trust Co bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,217 shares of the bank's stock, valued at approximately $773,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Garde Capital Inc. bought a new position in Bank of New York Mellon during the first quarter worth about $63,000. Nilsine Partners LLC boosted its position in Bank of New York Mellon by 23.1% during the first quarter. Nilsine Partners LLC now owns 14,834 shares of the bank's stock worth $1,244,000 after purchasing an additional 2,781 shares during the period. Aspire Private Capital LLC boosted its position in Bank of New York Mellon by 6.2% during the first quarter. Aspire Private Capital LLC now owns 18,752 shares of the bank's stock worth $1,573,000 after purchasing an additional 1,097 shares during the period. Meriwether Wealth & Planning LLC boosted its position in Bank of New York Mellon by 11.9% during the first quarter. Meriwether Wealth & Planning LLC now owns 14,345 shares of the bank's stock worth $1,203,000 after purchasing an additional 1,530 shares during the period. Finally, ORG Partners LLC bought a new position in Bank of New York Mellon during the first quarter worth about $42,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Down 2.3%

Shares of BK traded down $2.07 during mid-day trading on Monday, reaching $89.55. The company's stock had a trading volume of 9,335,517 shares, compared to its average volume of 4,083,759. The stock has a market cap of $64.07 billion, a PE ratio of 14.58, a P/E/G ratio of 1.02 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 52 week low of $58.19 and a 52 week high of $92.64. The company's fifty day moving average price is $85.50 and its two-hundred day moving average price is $83.28.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The business's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. On average, analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. 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 payout ratio is 30.62%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BK shares. 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 report on Monday, March 17th. Evercore ISI raised their price objective on shares of 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. Wells Fargo & Company raised their price objective on shares of 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. Morgan Stanley raised 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 report on Tuesday, June 3rd. Finally, Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their target price for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.85.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by insiders.

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.