The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 27.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,073 shares of the bank’s stock after purchasing an additional 1,102 shares during the period. Mezzasalma Advisors LLC’s holdings in Bank of New York Mellon were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. Kathleen S. Wright Associates Inc. acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $32,000. Able Wealth Management LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $32,000. Hartford Financial Management Inc. boosted its position in shares of 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 in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after purchasing an additional 527 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BK shares. Keefe, Bruyette & Woods raised Bank of New York Mellon from a “market perform” rating to an “outperform” rating and upped their target price for the company from $60.00 to $70.00 in a report on Thursday, June 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Jefferies Financial Group boosted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI restated an “in-line” rating and set a $61.00 price target on shares of Bank of New York Mellon in a report on Wednesday. Finally, Bank of America upped their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $61.15.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the sale, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the transaction, the vice president now owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now directly owns 24,346 shares in the company, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,928 shares of company stock worth $6,475,216. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

NYSE:BK traded down $0.03 during mid-day trading on Thursday, hitting $60.47. 1,528,637 shares of the company’s stock traded hands, compared to its average volume of 3,556,486. The firm has a market capitalization of $45.22 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. The firm has a 50 day moving average of $58.63 and a two-hundred day moving average of $56.22. 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 12 month low of $39.66 and a 12 month high of $60.91.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 EPS. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 5.47 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were issued a $0.42 dividend. The ex-dividend date was Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.78%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

About Bank of New York Mellon

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.