Raiffeisen Bank International AG Makes New $6.82 Million Investment in The Bank of New York Mellon Co. (NYSE:BK)

Raiffeisen Bank International AG purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 88,473 shares of the bank's stock, valued at approximately $6,822,000.

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

Bank of New York Mellon Trading Down 1.2%

Shares of BK stock traded down $1.08 during mid-day trading on Wednesday, reaching $89.02. The stock had a trading volume of 1,600,691 shares, compared to its average volume of 4,029,006. The firm has a market capitalization of $63.69 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The stock's 50-day moving average price is $81.47 and its two-hundred day moving average price is $81.58. 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 Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.63.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. Equities 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 2.11%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Evercore ISI lifted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Morgan Stanley lowered their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, Citigroup upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated 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 directly owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. 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.

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.