Entropy Technologies LP Buys Shares of 17,828 The Bank of New York Mellon Co. (NYSE:BK)

Entropy Technologies LP purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,828 shares of the bank's stock, valued at approximately $1,027,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $813,701,000. Vanguard Group Inc. boosted its stake in Bank of New York Mellon by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank's stock worth $3,877,801,000 after purchasing an additional 4,293,751 shares during the period. KBC Group NV grew its holdings in Bank of New York Mellon by 217.0% during the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank's stock valued at $79,558,000 after buying an additional 1,046,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bank of New York Mellon by 153.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank's stock valued at $80,913,000 after buying an additional 941,193 shares during the period. Finally, Putnam Investments LLC lifted its holdings in shares of Bank of New York Mellon by 224.9% in the fourth quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank's stock worth $52,105,000 after buying an additional 692,910 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

BK traded down $0.93 during midday trading on Wednesday, hitting $64.09. The stock had a trading volume of 7,342,290 shares, compared to its average volume of 3,786,678. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $65.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70. The business has a fifty day moving average of $59.65 and a 200 day moving average of $56.95. The company has a market cap of $47.93 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.55 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Monday, July 22nd. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.42. Bank of New York Mellon's dividend payout ratio is 38.89%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon 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 completion of the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon 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 sale, the executive vice president now owns 100,404 shares of the company's stock, valued at approximately $5,637,684.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the company's stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,928 shares of company stock valued at $6,475,216. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BK. Barclays upped their target price on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday. Morgan Stanley boosted their target price on Bank of New York Mellon from $63.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Monday. 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 report on Thursday, April 18th. Finally, Evercore ISI boosted their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an "in-line" rating in a report on Monday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus price target 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.

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