4,020 Shares in The Bank of New York Mellon Co. (NYSE:BK) Acquired by Spinnaker Trust

Spinnaker Trust purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, Holdings Channel.com reports. The firm purchased 4,020 shares of the bank’s stock, valued at approximately $209,000.

Several other large investors have also recently made changes to their positions in the company. Northern Trust Corp increased its position in shares of Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after purchasing an additional 715,421 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Bank of New York Mellon by 1.5% during the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock worth $373,505,000 after purchasing an additional 129,929 shares in the last quarter. Legal & General Group Plc increased its position in shares of Bank of New York Mellon by 0.9% during the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock worth $281,912,000 after purchasing an additional 57,402 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Bank of New York Mellon by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock worth $272,425,000 after purchasing an additional 226,834 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Bank of New York Mellon by 10.0% during the third quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock worth $246,182,000 after buying an additional 524,912 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated 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 owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,568 shares of company stock worth $5,459,897. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group boosted their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Citigroup boosted their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Jefferies Financial Group boosted their price objective on 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. Morgan Stanley boosted their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Trading Up 0.2 %

Shares of Bank of New York Mellon stock traded up $0.14 during trading hours on Friday, hitting $57.32. The company’s stock had a trading volume of 2,058,025 shares, compared to its average volume of 3,589,079. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The firm has a fifty day moving average of $56.01 and a 200-day moving average of $51.77. The stock has a market cap of $43.15 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.23 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

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, beating the consensus estimate of $1.19 by $0.10. The firm 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 return on equity of 11.80% and a net margin of 9.48%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. Research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.93%. Bank of New York Mellon’s dividend payout ratio is presently 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.