The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 153.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,554,532 shares of the bank's stock after acquiring an additional 941,193 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.20% of Bank of New York Mellon worth $80,913,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its stake in Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank's stock worth $30,000 after purchasing an additional 300 shares during the period. Hartford Financial Management Inc. boosted its stake in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank's stock worth $33,000 after purchasing an additional 183 shares during the period. Sunbelt Securities Inc. bought a new position in Bank of New York Mellon in the 1st quarter worth approximately $36,000. Addison Advisors LLC boosted its stake in Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank's stock worth $37,000 after purchasing an additional 754 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in Bank of New York Mellon in the 3rd quarter worth approximately $38,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Down 2.0 %

NYSE:BK traded down $1.11 during midday trading on Tuesday, hitting $53.99. 8,232,823 shares of the company traded hands, compared to its average volume of 4,018,011. The firm's fifty day moving average is $55.75 and its 200-day moving average is $51.08. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The firm has a market capitalization of $40.64 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.18 and a beta of 1.12. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the firm posted $1.13 EPS. Bank of New York Mellon's quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.11%. Bank of New York Mellon's payout ratio is 42.32%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on BK. Citigroup upped their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. upgraded Bank of New York Mellon from a "neutral" rating to an "overweight" rating and set a $54.50 price target for the company in a research note on Monday, December 18th. Morgan Stanley upgraded Bank of New York Mellon from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. UBS Group increased their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.72.

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.