Tower Research Capital LLC TRC Grows Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Tower Research Capital LLC TRC boosted its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 147.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,014 shares of the bank's stock after purchasing an additional 35,783 shares during the quarter. Tower Research Capital LLC TRC's holdings in Bank of New York Mellon were worth $4,611,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Transce3nd LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $33,000. Graney & King LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $35,000. Centricity Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $39,000. TCTC Holdings LLC lifted its holdings in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after purchasing an additional 430 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth $49,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK traded down $0.05 during trading hours on Friday, hitting $78.67. The stock had a trading volume of 2,507,972 shares, compared to its average volume of 3,965,036. The firm has a 50-day moving average price of $81.68 and a 200 day moving average price of $80.47. 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 fifty-two week low of $56.08 and a fifty-two week high of $90.34. The firm has a market capitalization of $56.48 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion during 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%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research analyst reports. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Barclays lifted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Morgan Stanley cut their price target 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 note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $91.31.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction 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 completion of the sale, the vice president now directly owns 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 21,679 shares in the company, 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. Insiders own 0.14% of the company's stock.

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.