Kathleen S. Wright Associates Inc. Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Kathleen S. Wright Associates Inc. acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 550 shares of the bank’s stock, valued at approximately $32,000.

Other hedge funds have also recently bought and sold shares of the company. United Services Automobile Association lifted its position in Bank of New York Mellon by 6.9% during the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock worth $1,325,000 after acquiring an additional 1,640 shares during the last quarter. Searle & CO. bought a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $234,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bank of New York Mellon by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after purchasing an additional 40,969 shares during the period. Janney Capital Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $243,000. Finally, Trust Point Inc. bought a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $310,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.6 %

BK stock traded up $0.35 during midday trading on Friday, hitting $59.89. The stock had a trading volume of 5,915,198 shares, compared to its average volume of 3,489,211. The firm has a market cap of $44.79 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $60.87. The business has a fifty day moving average price of $58.45 and a two-hundred day moving average price of $56.03.

Bank of New York Mellon (NYSE:BK) last released its 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 business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Jefferies Financial Group lifted their price objective 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. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Keefe, Bruyette & Woods upgraded shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $70.00 in a research report on Thursday. Finally, Evercore ISI raised their target price 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 report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.15.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,928 shares of company stock valued at $6,475,216. Corporate insiders own 0.14% of the company’s stock.

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.