8,776 Shares in The Bank of New York Mellon Co. (NYSE:BK) Acquired by NorthRock Partners LLC

NorthRock Partners LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,776 shares of the bank’s stock, valued at approximately $674,000.

Several other institutional investors have also recently added to or reduced their stakes in BK. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. Transce3nd LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $33,000. South Plains Financial Inc. bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $34,000. Finally, Graney & King LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $35,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK opened at $89.30 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week high of $90.34. The firm has a 50-day moving average of $80.89 and a 200 day moving average of $81.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market cap of $63.89 billion, a P/E ratio of 15.37, a PEG ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the business posted $1.29 EPS. Bank of New York Mellon’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced 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 was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. Bank of New York Mellon’s payout ratio is presently 30.62%.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president now owns 55,115 shares of the company’s stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction 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 owns 87,542 shares in the company, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their position. 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 90 days. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BK shares. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Morgan Stanley cut their target price on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Bank of America upped their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.31.

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.