The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Signaturefd LLC

Signaturefd LLC boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,328 shares of the bank’s stock after purchasing an additional 2,413 shares during the quarter. Signaturefd LLC’s holdings in Bank of New York Mellon were worth $694,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. UBS Group boosted their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Bank of America boosted their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Citigroup boosted their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Evercore ISI boosted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 4,498 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock valued at $5,459,897 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 0.5 %

Shares of NYSE BK opened at $57.45 on Wednesday. The stock has a market cap of $43.25 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.21 and a beta of 1.12. The business has a 50 day simple moving average of $55.86 and a 200 day simple moving average of $51.58. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly 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. The business had revenue of $4.53 billion during 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 EPS. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. Bank of New York Mellon’s payout ratio is currently 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.