The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,482 shares of the bank’s stock after acquiring an additional 2,745 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Bank of New York Mellon were worth $1,641,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $28,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at about $32,000. Hartford Financial Management Inc. raised its stake in Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after acquiring an additional 527 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now owns 144,721 shares in the company, valued at approximately $8,343,165.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now owns 144,721 shares in the company, valued at approximately $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold a total of 115,928 shares of company stock worth $6,475,216 in the last quarter. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK remained flat at $60.11 on Tuesday. The company had a trading volume of 445,642 shares, compared to its average volume of 3,692,528. The stock has a market cap of $44.95 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The company’s fifty day moving average is $58.45 and its 200-day moving average is $56.07. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $60.87.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BK shares. Morgan Stanley upped their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, Bank of America upped their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.15.

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.