McIlrath & Eck LLC Grows Holdings in The Bank of New York Mellon Co. (NYSE:BK)

McIlrath & Eck LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,091 shares of the bank’s stock after purchasing an additional 231 shares during the quarter. McIlrath & Eck LLC’s holdings in Bank of New York Mellon were worth $545,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup increased their price objective 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. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Finally, Morgan Stanley lowered their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.31.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last quarter. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $90.00 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12 month low of $57.18 and a 12 month high of $90.63. The company has a market capitalization of $64.39 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 0.97 and a beta of 1.05. The firm’s 50-day moving average is $81.47 and its 200 day moving average is $81.58.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. Research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

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.