Fifth Third Bancorp Purchases 13,444 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Fifth Third Bancorp increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,490 shares of the bank's stock after acquiring an additional 13,444 shares during the quarter. Fifth Third Bancorp's holdings in Bank of New York Mellon were worth $9,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its stake in Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after buying an additional 82,671 shares in the last quarter. Natixis Advisors LLC lifted its stake in Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after buying an additional 17,457 shares in the last quarter. Benson Investment Management Company Inc. acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $5,259,000. NEOS Investment Management LLC raised its holdings in shares of Bank of New York Mellon by 31.6% in the fourth quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank's stock valued at $3,584,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of Bank of New York Mellon by 89.0% in the first quarter. Merit Financial Group LLC now owns 13,296 shares of the bank's stock valued at $1,115,000 after purchasing an additional 6,262 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BK. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Wells Fargo & Company lifted 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 report on Monday, March 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Evercore ISI lifted 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 report on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction dated 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 completion of the sale, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock worth $7,869,795 over the last ninety days. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded down $1.21 on Friday, hitting $88.50. The company had a trading volume of 3,527,284 shares, compared to its average volume of 4,074,326. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.63. The stock has a market cap 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 stock has a 50 day moving average price of $84.13 and a 200 day moving average price of $82.93. 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 quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating 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 firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company's quarterly revenue was up 5.9% on a year-over-year basis. Analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders 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 dividend yield of 2.12%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

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.