Warner Financial Inc. Takes Position in The Bank of New York Mellon Corporation (NYSE:BK)

Warner Financial Inc. bought a new position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,033 shares of the bank's stock, valued at approximately $506,000.

A number of other hedge funds have also made changes to their positions in the company. Capital Analysts LLC raised its holdings in shares of Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after acquiring an additional 119 shares during the period. Cape Investment Advisory Inc. increased its holdings in Bank of New York Mellon by 12.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock worth $90,000 after purchasing an additional 131 shares in the last quarter. Syon Capital LLC increased its holdings in Bank of New York Mellon by 2.5% during the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock worth $417,000 after purchasing an additional 132 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Bank of New York Mellon by 0.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after purchasing an additional 133 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Bank of New York Mellon by 1.1% in the 1st quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock valued at $1,056,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $89.75 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $64.21 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.03 and a beta of 1.08. The firm has a 50-day moving average price of $84.68 and a two-hundred day moving average price of $83.05. The Bank of New York Mellon Corporation has a 12-month low of $57.79 and a 12-month 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 the consensus estimate of $1.50 by $0.08. The business 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 11.78% and a return on equity of 12.96%. Bank of New York Mellon's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.09%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

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 the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total value 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. The trade was a 42.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president now owns 55,115 shares of the company's stock, valued at $4,355,738.45. This trade represents a 35.25% 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 90 days. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BK. Morgan Stanley upped their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. 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. Wells Fargo & Company lifted 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 report on Monday, March 3rd. Finally, Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $91.85.

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.

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