Hunter Associates Investment Management LLC Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Hunter Associates Investment Management LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,200 shares of the bank’s stock after acquiring an additional 1,980 shares during the period. Hunter Associates Investment Management LLC’s holdings in Bank of New York Mellon were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. increased its position in shares of Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Hartford Financial Management Inc. increased 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 during the last quarter. Sunbelt Securities Inc. bought a new position in shares of Bank of New York Mellon during the 1st quarter valued at approximately $36,000. Addison Advisors LLC grew its position in 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 acquiring an additional 754 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new position in Bank of New York Mellon in the 3rd quarter valued at $38,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BK shares. Citigroup upped their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Finally, UBS Group increased their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.06.

Bank of New York Mellon Stock Up 1.9 %

Shares of NYSE BK traded up $1.04 during mid-day trading on Friday, reaching $56.29. 4,420,732 shares of the company were exchanged, compared to its average volume of 3,473,028. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The stock has a market cap of $42.38 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.19 and a beta of 1.12. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The firm has a 50-day moving average of $55.76 and a 200 day moving average of $51.23.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is 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.