Hancock Whitney Corp lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,459 shares of the bank's stock after acquiring an additional 4,303 shares during the quarter. Hancock Whitney Corp's holdings in Bank of New York Mellon were worth $11,867,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of BK. McIlrath & Eck LLC boosted its stake in shares of Bank of New York Mellon by 3.8% during the third quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock valued at $493,000 after purchasing an additional 254 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 3.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock valued at $705,000 after buying an additional 345 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $2,617,000. Wilmington Savings Fund Society FSB boosted its stake in Bank of New York Mellon by 340.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock valued at $2,011,000 after acquiring an additional 21,641 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Bank of New York Mellon by 7.1% in the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock worth $2,426,000 after purchasing an additional 2,240 shares during the last quarter. Institutional investors own 85.31% of the company's stock.
Bank of New York Mellon Stock Performance
NYSE BK traded up $0.95 during mid-day trading on Tuesday, reaching $79.86. 1,020,331 shares of the stock were exchanged, compared to its average volume of 4,342,288. The Bank of New York Mellon Co. has a 1 year low of $56.08 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The business's 50 day moving average is $81.50 and its 200-day moving average is $80.59. The company has a market capitalization of $57.34 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.97 and a beta of 1.03.
Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion during 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%. Bank of New York Mellon's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 EPS. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.
Bank of New York Mellon Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on BK. Bank of America boosted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Truist Financial dropped their price target on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Royal Bank of Canada restated 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. Finally, UBS Group boosted their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.
Read Our Latest Stock Analysis on Bank of New York Mellon
Insider Buying and Selling at Bank of New York Mellon
In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were 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 in the company, valued at $6,767,872.02. This represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.
About Bank of New York Mellon
(
Free Report)
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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