Tectonic Advisors LLC Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Tectonic Advisors LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,135 shares of the bank’s stock after purchasing an additional 515 shares during the period. Tectonic Advisors LLC’s holdings in Bank of New York Mellon were worth $469,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BK. Vanguard Group Inc. boosted its stake in Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after acquiring an additional 4,293,751 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Bank of New York Mellon by 0.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock valued at $1,030,254,000 after purchasing an additional 144,162 shares in the last quarter. Norges Bank purchased a new position in Bank of New York Mellon in the fourth quarter worth about $813,701,000. LSV Asset Management grew its holdings in shares of Bank of New York Mellon by 1.0% during the fourth quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock valued at $383,723,000 after buying an additional 72,880 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Bank of New York Mellon by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock worth $351,775,000 after acquiring an additional 223,867 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,928 shares of company stock worth $6,475,216. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK traded up $3.22 during mid-day trading on Friday, reaching $64.69. The stock had a trading volume of 9,394,513 shares, compared to its average volume of 3,377,488. The firm has a market cap of $48.38 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.31 and a beta of 1.09. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $64.93. The business has a fifty day moving average of $59.20 and a 200 day moving average of $56.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. Equities analysts predict that The Bank of New York Mellon Co. will post 5.49 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be issued a dividend of $0.47 per share. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is 38.89%.

Analyst Ratings Changes

BK has been the subject of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI restated an “in-line” rating and issued a $61.00 target price on shares of Bank of New York Mellon in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods upgraded shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $70.00 in a research note on Thursday, June 27th. Bank of America raised their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.15.

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.