The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury boosted its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 324,440 shares of the bank's stock after purchasing an additional 6,307 shares during the period. State of Tennessee Department of Treasury's holdings in Bank of New York Mellon were worth $24,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $33,000. Graney & King LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $35,000. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon during the fourth quarter worth about $39,000. TCTC Holdings LLC lifted its position in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after purchasing an additional 430 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BK. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Citigroup upped their target price 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. Finally, Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Price Performance

BK stock opened at $74.06 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $53.17 billion, a P/E ratio of 12.75, a PEG ratio of 0.97 and a beta of 1.03. The business has a 50 day simple moving average of $82.49 and a 200-day simple moving average of $80.44. The Bank of New York Mellon Co. has a twelve month low of $56.08 and a twelve month high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS 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. Shareholders of record on Monday, April 21st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

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.

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