Virtus ETF Advisers LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,038 shares of the bank's stock, valued at approximately $1,155,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. McIlrath & Eck LLC increased its position in Bank of New York Mellon by 3.8% during the third quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock worth $493,000 after acquiring an additional 254 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of Bank of New York Mellon by 3.6% in the third quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock valued at $705,000 after buying an additional 345 shares during the period. World Investment Advisors LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at $2,617,000. Wilmington Savings Fund Society FSB raised its position in Bank of New York Mellon by 340.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after purchasing an additional 21,641 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Bank of New York Mellon by 7.1% during the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock worth $2,426,000 after acquiring an additional 2,240 shares during the last quarter. 85.31% of the stock is owned by institutional investors.
Insider Buying and Selling at Bank of New York Mellon
In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's 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 sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.
Bank of New York Mellon Stock Up 1.5 %
BK stock traded up $1.21 during mid-day trading on Tuesday, reaching $80.12. 3,142,151 shares of the company traded hands, compared to its average volume of 3,970,797. The Bank of New York Mellon Co. has a fifty-two week low of $56.08 and a fifty-two 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. The firm's 50 day moving average price is $81.50 and its 200 day moving average price is $80.59. The stock has a market cap of $57.53 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.97 and a beta of 1.03.
Bank of New York Mellon (NYSE:BK - Get Free Report) last issued 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. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.
Bank of New York Mellon Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.
Analyst Upgrades and Downgrades
BK has been the topic of a number of analyst reports. Truist Financial reduced their price objective on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Citigroup lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. UBS Group lifted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Barclays raised their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.
Check Out Our Latest Stock Analysis on Bank of New York Mellon
Bank of New York Mellon Profile
(
Free Report)
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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