The Bank of New York Mellon Corporation (NYSE:BK) Shares Bought by Western Financial Corp CA

Western Financial Corp CA raised its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 467.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,267 shares of the bank's stock after buying an additional 20,813 shares during the period. Bank of New York Mellon comprises about 1.2% of Western Financial Corp CA's portfolio, making the stock its 13th largest holding. Western Financial Corp CA's holdings in Bank of New York Mellon were worth $2,119,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BK. FMR LLC lifted its stake in Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $1,150,462,000. Ameriprise Financial Inc. raised its position in shares of Bank of New York Mellon by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after buying an additional 35,413 shares during the period. Northern Trust Corp raised its position in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after buying an additional 1,526,686 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after buying an additional 1,125,493 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 1.3%

Shares of NYSE BK opened at $89.97 on Thursday. The Bank of New York Mellon Corporation has a 1 year low of $58.19 and a 1 year high of $92.64. The firm's 50 day moving average price is $86.30 and its 200 day moving average price is $83.45. The firm has a market cap of $64.37 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the business earned $1.29 earnings per share. Bank of New York Mellon's revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared 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 was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.09%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BK. Evercore ISI lifted their price target 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 lifted their price target 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price target for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, Citigroup lifted their price target on shares of 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.85.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon 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 owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% 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 in the last quarter. 0.14% of the stock is 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.

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