Amalgamated Bank Increases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Amalgamated Bank increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,076 shares of the bank’s stock after purchasing an additional 6,054 shares during the period. Amalgamated Bank’s holdings in Bank of New York Mellon were worth $10,987,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. increased its holdings in Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares in the last quarter. Blue Trust Inc. raised its position in shares of Bank of New York Mellon by 159.2% during 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. Addison Advisors LLC lifted its stake 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 buying an additional 754 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Bank of New York Mellon in the third quarter worth $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BK shares. UBS Group upped their target price 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. Evercore ISI lifted their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Citigroup boosted their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Bank of America increased 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 research note on Wednesday, April 17th. Finally, Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Bank of New York Mellon Stock Up 0.7 %

Shares of BK stock traded up $0.40 during trading hours on Friday, reaching $57.00. The company had a trading volume of 2,214,001 shares, compared to its average volume of 3,813,908. The stock’s fifty day simple moving average is $56.14 and its 200 day simple moving average is $52.19. The company has a market capitalization of $42.91 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.11. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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 of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.95%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction that occurred on 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 $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock valued at $5,459,897 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon 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.