Tower Research Capital LLC TRC Increases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Tower Research Capital LLC TRC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 147.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 60,014 shares of the bank's stock after buying an additional 35,783 shares during the quarter. Tower Research Capital LLC TRC's holdings in Bank of New York Mellon were worth $4,611,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cape Investment Advisory Inc. boosted its holdings in Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock valued at $90,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust increased its position in shares of Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock valued at $60,000 after buying an additional 135 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Bank of New York Mellon by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after buying an additional 139 shares during the period. Finally, Stratos Investment Management LLC raised its stake in Bank of New York Mellon by 2.9% in the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank's stock worth $393,000 after buying an additional 142 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on BK. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Citigroup increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Truist Financial dropped their price target on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $91.31.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $1.43 on Wednesday, hitting $77.74. The stock had a trading volume of 3,764,119 shares, compared to its average volume of 3,961,325. The business's 50-day simple moving average is $82.08 and its two-hundred day simple moving average is $80.39. The stock has a market cap of $55.82 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52-week low of $56.08 and a 52-week high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.96 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 Friday, May 2nd. Stockholders of record on Monday, April 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.