Farringdon Capital Ltd. Invests $421,000 in The Bank of New York Mellon Co. (NYSE:BK)

Farringdon Capital Ltd. bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,480 shares of the bank’s stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Graney & King LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $35,000. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $39,000. TCTC Holdings LLC grew its holdings in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $49,000. Finally, Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $56,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on BK shares. Truist Financial cut their price target on Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Barclays raised their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.64.

Bank of New York Mellon Trading Up 0.7 %

NYSE:BK opened at $76.25 on Friday. The stock has a market capitalization of $54.75 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 1 year low of $54.76 and a 1 year high of $90.34. The stock has a fifty day moving average price of $82.91 and a two-hundred day moving average price of $80.26. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares of the company’s stock, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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.