10,200 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Yoffe Investment Management LLC

Yoffe Investment Management LLC purchased a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,200 shares of the bank's stock, valued at approximately $784,000. Bank of New York Mellon accounts for 1.1% of Yoffe Investment Management LLC's portfolio, making the stock its 21st biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its stake in Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after purchasing an additional 82,671 shares during the last quarter. Fifth Third Bancorp lifted its stake in Bank of New York Mellon by 9.2% during the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock worth $7,226,000 after purchasing an additional 7,935 shares during the last quarter. Natixis Advisors LLC lifted its stake in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock worth $21,971,000 after purchasing an additional 17,457 shares during the last quarter. Western Financial Corp CA bought a new position in Bank of New York Mellon during the fourth quarter worth $342,000. Finally, NEOS Investment Management LLC lifted its stake in Bank of New York Mellon by 31.6% during the fourth quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank's stock worth $3,584,000 after purchasing an additional 11,200 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company'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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Catherine Keating sold 65,473 shares of the 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 completion of the sale, the vice president now owns 87,542 shares of the company's stock, valued at $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. Insiders sold a total of 101,114 shares of company stock worth $7,869,795 over the last 90 days. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their target price for the stock from $87.00 to $97.00 in a research report on Wednesday. Morgan Stanley dropped their target price on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company raised their price target on 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 lifted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.08.

Bank of New York Mellon Price Performance

BK stock traded down $0.42 during trading on Friday, hitting $88.65. The company had a trading volume of 6,337,730 shares, compared to its average volume of 4,077,975. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market cap of $63.42 billion, a P/E ratio of 15.26, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a fifty day moving average price of $82.36 and a two-hundred day moving average price of $82.20. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week 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 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders 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 2.12%. Bank of New York Mellon's payout ratio is currently 30.62%.

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.