The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 109.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,368 shares of the bank's stock after purchasing an additional 3,324 shares during the period. Versant Capital Management Inc's holdings in Bank of New York Mellon were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Parvin Asset Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $28,000. REAP Financial Group LLC grew its stake in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after acquiring an additional 218 shares in the last quarter. Transce3nd LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $33,000. Finally, South Plains Financial Inc. purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BK. Evercore ISI upped 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 research note on Tuesday, April 1st. Morgan Stanley dropped 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 note on Wednesday, April 2nd. Citigroup upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Wells Fargo & Company upped 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 research note on Monday, March 3rd. Finally, Wall Street Zen cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.08.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,114 shares of company stock valued at $7,869,795. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Trading Up 0.4%

Shares of NYSE:BK traded up $0.32 during mid-day trading on Monday, reaching $88.93. 2,449,413 shares of the company were exchanged, compared to its average volume of 4,067,046. 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 firm has a market cap of $63.62 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.97 and a beta of 1.05. The firm's 50-day simple moving average is $82.36 and its 200 day simple moving average is $82.27. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. Equities research analysts forecast 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 business 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. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. Bank of New York Mellon's 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.