Ledyard National Bank Purchases Shares of 5,471 The Bank of New York Mellon Co. (NYSE:BK)

Ledyard National Bank purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,471 shares of the bank’s stock, valued at approximately $285,000.

Other hedge funds also recently made changes to their positions in the company. Hartford Financial Management Inc. boosted its holdings in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after purchasing an additional 754 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $38,000. Blue Trust Inc. lifted its holdings in shares of Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after acquiring an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.7 %

Shares of Bank of New York Mellon stock traded down $0.41 during trading on Tuesday, reaching $56.92. The company had a trading volume of 450,780 shares, compared to its average volume of 3,895,179. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The firm’s fifty day moving average is $56.05 and its 200-day moving average is $52.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.95%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BK shares. UBS Group lifted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Jefferies Financial Group lifted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Bank of America lifted their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.17.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,568 shares of company stock worth $5,459,897. 0.14% of the stock is owned by company insiders.

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.