Stock Yards Bank & Trust Co. Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Stock Yards Bank & Trust Co. bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) during the fourth quarter, HoldingsChannel reports. The firm bought 4,296 shares of the bank’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently modified their holdings of BK. Hartford Financial Management Inc. boosted its holdings in shares of Bank of New York Mellon by 41.4% during the 4th 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. Addison Advisors LLC boosted 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 worth $37,000 after purchasing an additional 754 shares in the last quarter. First Command Advisory Services Inc. bought a new position in Bank of New York Mellon in the 3rd quarter worth about $38,000. Blue Trust Inc. boosted its stake in Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after purchasing an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Bank of New York Mellon in the 3rd quarter worth about $49,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock valued at $5,459,897 in the last quarter. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $57.94 on Thursday. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The business has a 50-day simple moving average of $55.93 and a two-hundred day simple moving average of $51.63. 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 firm has a market cap of $43.62 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.12.

Bank of New York Mellon (NYSE:BKGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts expect that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s payout ratio is currently 40.98%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BK. Bank of America upped 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. Citigroup upped their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Jefferies Financial Group upped their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Check Out Our Latest Stock Analysis on Bank of New York Mellon

About Bank of New York Mellon

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BKFree Report).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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