Oppenheimer & Co. Inc. Acquires 2,553 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Oppenheimer & Co. Inc. boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 7.4% during the first quarter, Holdings Channel.com reports. The fund owned 37,089 shares of the bank’s stock after buying an additional 2,553 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Bank of New York Mellon were worth $3,111,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TrueMark Investments LLC bought a new position in Bank of New York Mellon in the 1st quarter worth about $4,282,000. O Shaughnessy Asset Management LLC increased its stake in Bank of New York Mellon by 11.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock worth $60,426,000 after acquiring an additional 82,671 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Bank of New York Mellon by 29.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank’s stock worth $18,740,000 after acquiring an additional 50,368 shares during the last quarter. Natixis Advisors LLC increased its stake in Bank of New York Mellon by 6.5% in the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after acquiring an additional 17,457 shares during the last quarter. Finally, Benson Investment Management Company Inc. bought a new position in Bank of New York Mellon in the 1st quarter worth about $5,259,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BK has been the topic of a number of research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Citigroup increased their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Evercore ISI raised their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. Morgan Stanley raised their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Finally, Truist Financial cut Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $89.97 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50 day simple moving average is $86.30 and its two-hundred day simple moving average is $83.45. The stock has a market capitalization of $64.37 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a one year low of $58.19 and a one year high of $92.64.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.09%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.62%.

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.