Garde Capital Inc. Takes Position in The Bank of New York Mellon Corporation (NYSE:BK)

Garde Capital Inc. acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 757 shares of the bank’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Nilsine Partners LLC lifted its stake in Bank of New York Mellon by 23.1% during the first quarter. Nilsine Partners LLC now owns 14,834 shares of the bank’s stock worth $1,244,000 after purchasing an additional 2,781 shares during the last quarter. Aspire Private Capital LLC lifted its stake in Bank of New York Mellon by 6.2% during the first quarter. Aspire Private Capital LLC now owns 18,752 shares of the bank’s stock worth $1,573,000 after purchasing an additional 1,097 shares during the last quarter. Meriwether Wealth & Planning LLC lifted its stake in Bank of New York Mellon by 11.9% during the first quarter. Meriwether Wealth & Planning LLC now owns 14,345 shares of the bank’s stock worth $1,203,000 after purchasing an additional 1,530 shares during the last quarter. ORG Partners LLC purchased a new stake in Bank of New York Mellon during the first quarter worth approximately $42,000. Finally, Blue Trust Inc. lifted its stake in Bank of New York Mellon by 134.9% during the first quarter. Blue Trust Inc. now owns 4,414 shares of the bank’s stock worth $370,000 after purchasing an additional 2,535 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,114 shares of company stock valued at $7,869,795. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BK. Truist Financial cut Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their target price for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley boosted their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. Royal Bank Of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Wells Fargo & Company boosted their target price 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. Finally, Evercore ISI lifted their price target on 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. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.85.

Bank of New York Mellon Trading Down 0.0%

BK opened at $91.58 on Friday. The firm has a market cap of $65.52 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a 52 week low of $58.19 and a 52 week high of $92.64. The business’s 50 day moving average is $85.50 and its two-hundred day moving average is $83.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. 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 company posted $1.29 earnings per share. On average, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

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.