Mission Wealth Management LP Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Mission Wealth Management LP raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,533 shares of the bank’s stock after purchasing an additional 1,375 shares during the period. Mission Wealth Management LP’s holdings in Bank of New York Mellon were worth $1,225,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BK. WealthTrust Axiom LLC increased its stake in Bank of New York Mellon by 78.7% in the fourth quarter. WealthTrust Axiom LLC now owns 13,971 shares of the bank’s stock valued at $727,000 after purchasing an additional 6,154 shares during the last quarter. Certuity LLC increased its stake in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after acquiring an additional 205 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Bank of New York Mellon by 3.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,059 shares of the bank’s stock worth $419,000 after acquiring an additional 241 shares during the period. Ledyard National Bank acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $285,000. Finally, Van ECK Associates Corp grew its holdings in Bank of New York Mellon by 3.0% in the fourth quarter. Van ECK Associates Corp now owns 3,646,496 shares of the bank’s stock valued at $189,800,000 after purchasing an additional 104,558 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK opened at $56.46 on Thursday. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The firm has a market cap of $42.51 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.23 and a beta of 1.12. The business’s 50 day moving average is $56.11 and its two-hundred day moving average is $52.16.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. Analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Insider Buying and Selling at Bank of New York Mellon

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

Analyst Ratings Changes

Several analysts have recently issued reports on BK shares. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. UBS Group raised their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Evercore ISI boosted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Bank of America lifted 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 report on Wednesday, April 17th. Finally, Citigroup increased their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $60.17.

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.