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

Tidal Investments LLC grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 796.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,559 shares of the bank’s stock after buying an additional 268,795 shares during the quarter. Tidal Investments LLC’s holdings in Bank of New York Mellon were worth $23,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its stake in shares of Bank of New York Mellon by 11.7% in the fourth 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 period. Fifth Third Bancorp boosted its stake in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after acquiring an additional 7,935 shares during the period. Natixis Advisors LLC boosted its stake in shares of Bank of New York Mellon by 6.5% in the fourth 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 period. Western Financial Corp CA bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $342,000. Finally, NEOS Investment Management LLC boosted its stake in shares of Bank of New York Mellon by 31.6% in the fourth quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank’s stock worth $3,584,000 after acquiring an additional 11,200 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial dropped their price target on Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Morgan Stanley dropped their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. 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 note on Tuesday, January 21st. Wells Fargo & Company increased their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.31.

Bank of New York Mellon Stock Up 0.7%

NYSE:BK opened at $90.06 on Friday. The stock has a market capitalization of $64.43 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52 week low of $57.18 and a 52 week high of $90.50. The stock’s fifty day moving average is $81.07 and its two-hundred day moving average is $81.37.

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

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date 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 payout ratio is currently 30.62%.

Insider Activity

In other Bank of New York Mellon news, 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 shares were 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 directly owns 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 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 $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company’s stock, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,114 shares of company stock worth $7,869,795. Company insiders own 0.14% of the company’s stock.

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.