The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 67.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 421,771 shares of the bank's stock after purchasing an additional 169,520 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Bank of New York Mellon worth $32,405,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $25,000. Bellwether Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $28,000. Transce3nd LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $33,000. South Plains Financial Inc. acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $34,000. Finally, Graney & King LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wall Street Zen lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Morgan Stanley reduced their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company lifted 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 report on Monday, March 3rd. Finally, Citigroup upped their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $91.31.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.19 during trading on Thursday, reaching $89.09. The stock had a trading volume of 3,695,853 shares, compared to its average volume of 4,052,080. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market cap of $63.74 billion, a PE ratio of 15.33, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63. The firm's 50 day moving average price is $81.61 and its two-hundred day moving average price is $81.63.

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 for the quarter, beating the consensus estimate 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 11.35% and a return on equity of 12.68%. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated 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 in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction 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 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 quarter. 0.14% of the stock is owned by company insiders.

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.