Cardinal Capital Management Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Cardinal Capital Management increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,012 shares of the bank’s stock after acquiring an additional 10,126 shares during the period. Bank of New York Mellon comprises about 1.3% of Cardinal Capital Management’s holdings, making the stock its 24th largest holding. Cardinal Capital Management’s holdings in Bank of New York Mellon were worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of BK. Quent Capital LLC grew its stake in shares of Bank of New York Mellon by 3.8% in the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after buying an additional 182 shares during the last quarter. Hartford Financial Management Inc. boosted its stake in Bank of New York Mellon by 41.4% during 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. Vivaldi Capital Management LP lifted its holdings in shares of Bank of New York Mellon by 3.3% during the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after buying an additional 192 shares during the period. Certuity LLC lifted its holdings in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after buying an additional 205 shares during the period. Finally, Choreo LLC lifted its holdings in shares of Bank of New York Mellon by 1.8% during the 4th quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after buying an additional 208 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods raised Bank of New York Mellon from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $70.00 in a report on Thursday. Evercore ISI lifted their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Bank of America boosted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Jefferies Financial Group boosted their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.15.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction 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 sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Up 1.5 %

BK stock traded up $0.87 during mid-day trading on Thursday, hitting $59.54. 3,682,690 shares of the company were exchanged, compared to its average volume of 3,707,660. The firm has a fifty day simple moving average of $58.30 and a 200 day simple moving average of $55.89. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.87. The company has a market capitalization of $44.53 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $1.13 EPS. On average, research analysts forecast that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

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.