Tidal Investments LLC Raises Stake in The Bank of New York Mellon Co. (NYSE:BK)

Tidal Investments LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 796.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302,559 shares of the bank's stock after buying an additional 268,795 shares during the quarter. Tidal Investments LLC's holdings in Bank of New York Mellon were worth $23,246,000 as of its most recent SEC filing.

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

Bank of New York Mellon Price Performance

Shares of NYSE BK traded up $0.06 during mid-day trading on Friday, hitting $89.24. 1,313,888 shares of the stock traded hands, compared to its average volume of 4,044,689. The firm has a 50 day simple moving average of $81.74 and a two-hundred day simple moving average of $81.73. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market cap of $63.84 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

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, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion for 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%. Bank of New York Mellon's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.11%. Bank of New York Mellon's payout ratio is 30.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Morgan Stanley lowered their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup upped their price target on 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. Finally, Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Buying and Selling at Bank of New York Mellon

In related 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,114 shares of company stock worth $7,869,795. Insiders own 0.14% of the company's stock.

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.