Relyea Zuckerberg Hanson LLC Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Relyea Zuckerberg Hanson LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.8% during the first quarter, HoldingsChannel.com reports. The firm owned 3,442 shares of the bank’s stock after acquiring an additional 158 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Bank of New York Mellon were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Analysts LLC increased its stake in Bank of New York Mellon by 3.7% in the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank’s stock worth $255,000 after purchasing an additional 119 shares during the period. Cape Investment Advisory Inc. increased its stake in Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after purchasing an additional 131 shares during the period. Syon Capital LLC increased its stake in Bank of New York Mellon by 2.5% in the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock worth $417,000 after purchasing an additional 132 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after buying an additional 133 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $88.50 on Friday. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.63. The stock’s 50-day moving average is $84.13 and its 200 day moving average is $82.92. The company has a market cap of $63.32 billion, a P/E ratio of 15.23, a PEG ratio of 0.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

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

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was 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 owns 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares of the company’s stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BK. Evercore ISI increased their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Wall Street Zen downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Finally, Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and increased their price target for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $91.85.

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.