Tradewinds LLC. Acquires 344 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Tradewinds LLC. grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BKFree Report) by 4.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,505 shares of the bank’s stock after buying an additional 344 shares during the period. Tradewinds LLC.’s holdings in Bank of New York Mellon were worth $629,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BK. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $220,000. Jones Financial Companies Lllp boosted its stake in Bank of New York Mellon by 47.4% in the 4th quarter. Jones Financial Companies Lllp now owns 17,115 shares of the bank’s stock worth $1,315,000 after purchasing an additional 5,507 shares in the last quarter. Assetmark Inc. boosted its stake in Bank of New York Mellon by 3,047.4% in the 4th quarter. Assetmark Inc. now owns 58,824 shares of the bank’s stock worth $4,519,000 after purchasing an additional 56,955 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Bank of New York Mellon in the 4th quarter worth about $11,575,000. Finally, Raymond James Financial Inc. bought a new position in Bank of New York Mellon in the 4th quarter worth about $90,955,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.2%

Bank of New York Mellon stock opened at $91.93 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12-month low of $59.19 and a 12-month high of $92.85. The firm has a 50 day moving average of $88.32 and a 200 day moving average of $84.07. The firm has a market capitalization of $65.77 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings data 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 11.78% and a return on equity of 12.96%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the firm posted $1.29 EPS. The company’s revenue was up 5.9% on a year-over-year basis. As a group, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share 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. Shareholders of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.05%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BK shares. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. Truist Financial cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and upped their price target for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Evercore ISI boosted their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, Citigroup upped their price target on shares of 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.08.

View Our Latest Research Report on Bank of New York Mellon

Insiders Place Their Bets

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 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 completion of the transaction, the executive vice president directly owned 55,115 shares of the company’s stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider owned 21,679 shares of the company’s stock, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 over the last three months. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Corporation (NYSE:BKFree Report).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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