1,930 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Cetera Trust Company N.A

Cetera Trust Company N.A bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,930 shares of the bank’s stock, valued at approximately $100,000.

A number of other hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its position in shares of Bank of New York Mellon by 8.2% during the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after purchasing an additional 715,421 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Bank of New York Mellon by 1.5% during the 3rd quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock worth $373,505,000 after acquiring an additional 129,929 shares during the last quarter. Legal & General Group Plc grew its holdings in Bank of New York Mellon by 0.9% during the 3rd quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock worth $281,912,000 after acquiring an additional 57,402 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Bank of New York Mellon by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock worth $272,425,000 after acquiring an additional 226,834 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Bank of New York Mellon by 10.0% during the 3rd quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock worth $246,182,000 after acquiring an additional 524,912 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.5 %

Bank of New York Mellon stock opened at $57.16 on Tuesday. The company’s 50 day simple moving average is $55.79 and its 200 day simple moving average is $51.48. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The firm has a market capitalization of $43.03 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $1.13 EPS. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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 paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. 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 note on Thursday, April 4th. Finally, Jefferies Financial Group raised their target price 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. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.17.

Insider Buying and Selling

In related news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

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.