Shilanski & Associates Inc. Acquires 20,988 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Shilanski & Associates Inc. boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 254.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,221 shares of the bank's stock after buying an additional 20,988 shares during the quarter. Shilanski & Associates Inc.'s holdings in Bank of New York Mellon were worth $2,451,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Capital Analysts LLC grew its position in Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock valued at $255,000 after buying an additional 119 shares during the period. Cape Investment Advisory Inc. boosted its position in shares of 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 period. Syon Capital LLC boosted its position in shares of Bank of New York Mellon by 2.5% in the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock worth $417,000 after purchasing an additional 132 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock worth $2,653,000 after purchasing an additional 133 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Bank of New York Mellon by 1.1% in the first quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock worth $1,056,000 after purchasing an additional 139 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK opened at $91.28 on Monday. The stock has a 50 day moving average price of $86.88 and a 200 day moving average price of $83.64. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a 52-week low of $59.19 and a 52-week high of $92.64.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data 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 return on equity of 12.96% and a net margin of 11.78%. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. Bank of New York Mellon's revenue was up 5.9% compared to the same quarter last year. Research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.06%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Wall Street Analyst Weigh In

BK has been the subject of a number of recent analyst reports. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price target for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Citigroup upped 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 research report on Monday, March 24th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Finally, 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 research report on Monday, March 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $91.85.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the 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 now owns 21,679 shares of the company's stock, valued at $1,680,122.50. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated 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 transaction, the vice president now directly owns 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. Insiders have sold 101,114 shares of company stock valued at $7,869,795 over the last ninety days. Corporate insiders own 0.14% of the company's stock.

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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