The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 64.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,278 shares of the bank’s stock after acquiring an additional 500 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Bank of New York Mellon were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quent Capital LLC increased its stake in shares of Bank of New York Mellon by 3.8% during the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after acquiring an additional 182 shares during the period. Hartford Financial Management Inc. boosted 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 purchasing an additional 183 shares in the last quarter. Greenleaf Trust lifted its position in shares of Bank of New York Mellon by 0.7% during the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after acquiring an additional 187 shares during the last quarter. Vivaldi Capital Management LP lifted its position in shares of Bank of New York Mellon by 3.3% during the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after acquiring an additional 192 shares during the last quarter. Finally, Certuity LLC lifted its position in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after acquiring an additional 205 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BK. Morgan Stanley increased 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 report on Thursday, April 18th. Keefe, Bruyette & Woods upgraded Bank of New York Mellon from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $60.00 to $70.00 in a research report on Thursday, June 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Evercore ISI restated an “in-line” rating and issued a $61.00 target price on shares of Bank of New York Mellon in a report on Wednesday. Finally, Bank of America increased their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $61.15.

Bank of New York Mellon Stock Down 1.0 %

Shares of NYSE BK traded down $0.59 during mid-day trading on Friday, reaching $59.88. The company had a trading volume of 2,225,053 shares, compared to its average volume of 3,327,657. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $44.78 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.20 and a beta of 1.09. The stock’s 50 day moving average is $58.74 and its 200-day moving average is $56.31.

Bank of New York Mellon (NYSE:BK) last posted 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. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.47 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 Thursday, May 9th. Shareholders of record on Friday, April 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.81%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 over the last three months. 0.14% of the stock is currently owned by insiders.

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.