Kathleen S. Wright Associates Inc. Takes $32,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Kathleen S. Wright Associates Inc. purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 550 shares of the bank’s stock, valued at approximately $32,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Natixis Advisors L.P. grew its holdings in Bank of New York Mellon by 71.1% during the 3rd quarter. Natixis Advisors L.P. now owns 238,260 shares of the bank’s stock worth $10,162,000 after acquiring an additional 99,047 shares in the last quarter. Trexquant Investment LP bought a new position in Bank of New York Mellon during the 3rd quarter worth about $1,669,000. Qube Research & Technologies Ltd bought a new position in Bank of New York Mellon during the 3rd quarter worth about $12,031,000. Tower Research Capital LLC TRC grew its holdings in Bank of New York Mellon by 184.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 35,120 shares of the bank’s stock worth $1,498,000 after acquiring an additional 22,792 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in Bank of New York Mellon by 1,191.2% during the 3rd quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock worth $31,953,000 after acquiring an additional 691,172 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK stock traded up $0.35 during trading on Friday, reaching $59.89. The company had a trading volume of 5,915,198 shares, compared to its average volume of 3,489,211. The firm has a 50-day simple moving average of $58.45 and a 200-day simple moving average of $56.03. The company has a market cap of $44.79 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.87.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s revenue for the quarter 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 5.45 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods upgraded shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $70.00 in a report on Thursday. Jefferies Financial Group raised their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Bank of America raised their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Evercore ISI raised their price target on shares of 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. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.15.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the transaction, the vice president now directly owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the transaction, the insider now directly owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,928 shares of company stock valued at $6,475,216. 0.14% of the stock is owned by insiders.

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.