Epoch Investment Partners Inc. Has $611,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Epoch Investment Partners Inc. increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 134.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,597 shares of the bank’s stock after buying an additional 6,081 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Bank of New York Mellon were worth $611,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Bank of New York Mellon during the 1st quarter worth approximately $71,000. 1832 Asset Management L.P. grew its holdings in shares of Bank of New York Mellon by 3.1% in the first quarter. 1832 Asset Management L.P. now owns 47,120 shares of the bank’s stock valued at $2,715,000 after acquiring an additional 1,423 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Bank of New York Mellon by 69.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank’s stock valued at $80,529,000 after acquiring an additional 574,185 shares in the last quarter. Toronto Dominion Bank grew its holdings in Bank of New York Mellon by 0.7% during the first quarter. Toronto Dominion Bank now owns 465,478 shares of the bank’s stock valued at $26,821,000 after purchasing an additional 3,376 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Bank of New York Mellon by 63.7% during the first quarter. Advisors Asset Management Inc. now owns 35,405 shares of the bank’s stock valued at $2,040,000 after purchasing an additional 13,778 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK traded up $0.54 during mid-day trading on Friday, reaching $65.35. 3,898,661 shares of the company traded hands, compared to its average volume of 4,424,193. The stock has a market capitalization of $48.87 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.16 and a beta of 1.09. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company’s fifty day moving average price is $60.39 and its 200-day moving average price is $57.52. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $65.90.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.58 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.88%. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Activity

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the transaction, the insider now owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction dated Tuesday, May 7th. The stock was 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 directly owns 24,346 shares in the company, valued at $1,410,363.78. The disclosure for this sale can be found here. Insiders sold a total of 36,858 shares of company stock valued at $2,223,504 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of analyst reports. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, July 15th. Jefferies Financial Group raised their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Barclays raised their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.23.

Bank of New York Mellon Company 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.