UMB Bank n.a. Has $11.26 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

UMB Bank n.a. raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 37.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,278 shares of the bank's stock after purchasing an additional 36,325 shares during the period. UMB Bank n.a.'s holdings in Bank of New York Mellon were worth $11,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $1,150,462,000. FMR LLC raised its stake in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after acquiring an additional 3,732,862 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock worth $732,468,000 after acquiring an additional 1,526,686 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Bank of New York Mellon by 9,538.9% in the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after purchasing an additional 1,385,434 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $90,955,000. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of 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 filing with the SEC, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now owns 21,679 shares in the company, 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. In the last three months, insiders have sold 101,114 shares of company stock worth $7,869,795. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Trading Up 2.0%

BK opened at $90.33 on Friday. 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 fifty day moving average of $82.87 and a 200-day moving average of $82.62. The stock has a market cap of $64.63 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.08%. Bank of New York Mellon's payout ratio is currently 30.62%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI raised their target price 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. Royal Bank of Canada reissued 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. Morgan Stanley upped their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Wall Street Zen downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price target for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $91.85.

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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