Stock Yards Bank & Trust Co. Invests $224,000 in The Bank of New York Mellon Co. (NYSE:BK)

Stock Yards Bank & Trust Co. acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,296 shares of the bank’s stock, valued at approximately $224,000.

Several other large investors also recently made changes to their positions in BK. Massachusetts Financial Services Co. MA grew its position in Bank of New York Mellon by 142.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after purchasing an additional 951,730 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after purchasing an additional 941,193 shares in the last quarter. Barclays PLC grew its position in Bank of New York Mellon by 30.0% in the third quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock valued at $160,020,000 after purchasing an additional 866,548 shares in the last quarter. Northern Trust Corp grew its position in Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares in the last quarter. Finally, Bank of Nova Scotia grew its position in Bank of New York Mellon by 1,191.2% in the third quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock valued at $31,953,000 after purchasing an additional 691,172 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on BK shares. Evercore ISI increased their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Jefferies Financial Group increased their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Bank of America increased their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Buying and Selling at Bank of New York Mellon

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

Bank of New York Mellon Stock Performance

NYSE BK opened at $57.94 on Thursday. The firm has a 50-day moving average of $55.93 and a 200-day moving average of $51.63. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The stock has a market cap of $43.62 billion, a PE ratio of 14.13, a P/E/G ratio of 1.24 and a beta of 1.12. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the firm earned $1.13 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is 40.98%.

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.