May Barnhard Investments LLC Purchases New Stake in The Bank of New York Mellon Co. (NYSE:BK)

May Barnhard Investments LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,806 shares of the bank's stock, valued at approximately $487,000.

A number of other large investors have also made changes to their positions in the stock. Capital Analysts LLC increased its holdings in shares of Bank of New York Mellon by 3.7% in 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 in the last quarter. Cape Investment Advisory Inc. increased its holdings in shares of Bank of New York Mellon by 12.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock valued at $90,000 after purchasing an additional 131 shares in the last quarter. Syon Capital LLC increased its holdings in shares of Bank of New York Mellon by 2.5% in the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after purchasing an additional 132 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Bank of New York Mellon by 0.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after acquiring an additional 133 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, 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 three months, 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 Trading Down 1.3%

Shares of Bank of New York Mellon stock traded down $1.21 during mid-day trading on Friday, hitting $88.50. 3,527,284 shares of the stock were exchanged, compared to its average volume of 4,067,348. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63. The stock has a market capitalization of $63.32 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a 50-day simple moving average of $84.13 and a 200 day simple moving average of $82.92. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

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

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.12%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Analysts Set New Price Targets

BK has been the topic of a number of research reports. Wall Street Zen cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. 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. 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 research note on Monday, March 17th. Evercore ISI increased 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 note on Tuesday, April 1st. Finally, 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average price target of $91.85.

Bank of New York Mellon 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.