Cetera Trust Company N.A Purchases New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Cetera Trust Company N.A purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,930 shares of the bank’s stock, valued at approximately $100,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC raised its stake in 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 worth $262,000 after acquiring an additional 182 shares in the last quarter. Hartford Financial Management Inc. raised its stake in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares in the last quarter. Commonwealth Retirement Investments LLC raised its stake in Bank of New York Mellon by 0.8% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock worth $1,445,000 after acquiring an additional 221 shares in the last quarter. Arjuna Capital raised its stake in Bank of New York Mellon by 0.5% during the third quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock worth $2,066,000 after acquiring an additional 251 shares in the last quarter. Finally, BRYN MAWR TRUST Co raised its stake in Bank of New York Mellon by 3.3% during the third quarter. BRYN MAWR TRUST Co now owns 8,000 shares of the bank’s stock worth $341,000 after acquiring an additional 258 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BK shares. Citigroup upped their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. UBS Group upped their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. 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. 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $57.16 on Tuesday. The business’s 50 day simple moving average is $55.79 and its 200 day simple moving average is $51.48. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The stock has a market capitalization of $43.03 billion, a PE ratio of 13.94, a PEG ratio of 1.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

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.