TD Waterhouse Canada Inc. Purchases 3,635 Shares of The Bank of New York Mellon Co. (NYSE:BK)

TD Waterhouse Canada Inc. grew its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 68,024 shares of the bank's stock after acquiring an additional 3,635 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Bank of New York Mellon were worth $5,229,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC grew its position in 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 worth $493,000 after buying an additional 254 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of Bank of New York Mellon by 3.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock worth $705,000 after purchasing an additional 345 shares during the period. World Investment Advisors LLC acquired a new stake in Bank of New York Mellon in the 3rd quarter worth about $2,617,000. Wilmington Savings Fund Society FSB raised its stake in Bank of New York Mellon by 340.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after purchasing an additional 21,641 shares during the period. Finally, Tidal Investments LLC grew its position in Bank of New York Mellon by 7.1% during the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock valued at $2,426,000 after acquiring an additional 2,240 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now owns 21,679 shares of the company's stock, valued at $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded up $0.31 during trading hours on Monday, hitting $78.96. 734,690 shares of the company's stock traded hands, compared to its average volume of 4,355,301. The company's fifty day simple moving average is $81.68 and its two-hundred day simple moving average is $80.56. The company has a market cap of $56.69 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. 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 Bank of New York Mellon Co. has a 52 week low of $56.08 and a 52 week high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period last year, the firm posted $1.29 earnings per share. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders 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 dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of 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. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, Citigroup increased their target price on 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.