Whitaker Myers Wealth Managers LTD. Purchases Shares of 4,510 The Bank of New York Mellon Co. (NYSE:BK)

Whitaker Myers Wealth Managers LTD. purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,510 shares of the bank's stock, valued at approximately $378,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedmont Private Capital lifted its holdings in Bank of New York Mellon by 12.4% during the 1st quarter. Wedmont Private Capital now owns 7,075 shares of the bank's stock worth $550,000 after buying an additional 783 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Bank of New York Mellon by 37.1% during the 1st quarter. UMB Bank n.a. now owns 134,278 shares of the bank's stock worth $11,262,000 after buying an additional 36,325 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Bank of New York Mellon in the first quarter valued at $208,000. Gateway Investment Advisers LLC increased its position in Bank of New York Mellon by 3.0% during the first quarter. Gateway Investment Advisers LLC now owns 16,589 shares of the bank's stock worth $1,391,000 after buying an additional 478 shares during the period. Finally, Vest Financial LLC purchased a new stake in Bank of New York Mellon in the 1st quarter valued at $43,093,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company's 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the company'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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded down $0.45 during mid-day trading on Wednesday, hitting $89.55. The company's stock had a trading volume of 2,273,850 shares, compared to its average volume of 4,061,635. The stock's fifty day moving average price is $83.19 and its two-hundred day moving average price is $82.77. The stock has a market capitalization of $64.07 billion, a P/E ratio of 15.41, a P/E/G 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. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63.

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, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company's revenue was up 5.9% compared to the same quarter last year. Research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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 dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.10%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Citigroup boosted their price objective on shares of 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. Evercore ISI upped their price objective on 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 reaffirmed a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Morgan Stanley increased their price objective on shares of 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. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently 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.