Hunter Associates Investment Management LLC Has $738,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Hunter Associates Investment Management LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 16.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,200 shares of the bank’s stock after buying 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 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BK. Norges Bank acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $503,489,000. Moneta Group Investment Advisors LLC grew its stake in Bank of New York Mellon by 74,433.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after buying an additional 6,106,537 shares in the last quarter. Barclays PLC boosted its stake in shares of Bank of New York Mellon by 126.2% in the 2nd quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock valued at $128,462,000 after purchasing an additional 1,609,730 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $66,916,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Bank of New York Mellon by 142.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after purchasing an additional 951,730 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE BK traded up $1.04 during midday trading on Friday, hitting $56.29. 4,420,732 shares of the company’s stock were exchanged, compared to its average volume of 3,473,028. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The company has a market cap of $42.38 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.19 and a beta of 1.12. The business’s fifty day moving average price is $55.76 and its two-hundred day moving average price is $51.23.

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

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders 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 is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. UBS Group raised their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Bank of America raised their price target 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. Finally, Citigroup raised their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.06.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

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.