Aptus Capital Advisors LLC Purchases 1,597 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Aptus Capital Advisors LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,262 shares of the bank’s stock after buying an additional 1,597 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Parvin Asset Management LLC purchased a new stake in Bank of New York Mellon in the fourth quarter worth about $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $28,000. Transce3nd LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $33,000. South Plains Financial Inc. bought a new position in Bank of New York Mellon during the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at $35,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $82.98 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $59.57 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The firm’s 50 day moving average price is $80.82 and its 200-day moving average price is $80.76. The Bank of New York Mellon Co. has a twelve month low of $57.12 and a twelve month high of $90.34.

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

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.62%.

Insider Activity

In related news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction on 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 $4,355,738.45. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.31.

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.