FORA Capital LLC Purchases New Shares in The Bank of New York Mellon Co. (NYSE:BK)

FORA Capital LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 4,978 shares of the bank's stock, valued at approximately $382,000.

A number of other hedge funds have also modified their holdings of the company. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $28,000. Transce3nd LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $33,000. South Plains Financial Inc. bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $35,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK stock traded down $0.07 during midday trading on Wednesday, reaching $87.86. The company had a trading volume of 3,006,771 shares, compared to its average volume of 4,011,623. The company has a market capitalization of $62.86 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The stock has a 50 day moving average price of $80.75 and a 200-day moving average price of $81.11. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The business's quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Activity

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 stock was 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 position. The transaction was disclosed in a filing 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 that occurred on 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 transaction, the vice president now directly owns 87,542 shares in the company, valued at $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. Insiders sold 101,114 shares of company stock valued at $7,869,795 over the last quarter. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BK shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Morgan Stanley decreased their price target 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. Truist Financial decreased their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Monday, April 14th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Bank of America raised their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

Bank of New York Mellon 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.