CIBC Private Wealth Group LLC Buys 10,799 Shares of The Bank of New York Mellon Co. (NYSE:BK)

CIBC Private Wealth Group LLC increased its holdings in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 25.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,688 shares of the bank’s stock after buying an additional 10,799 shares during the period. CIBC Private Wealth Group LLC’s holdings in Bank of New York Mellon were worth $2,794,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Rafferty Asset Management LLC boosted its holdings in Bank of New York Mellon by 4.3% in the 4th quarter. Rafferty Asset Management LLC now owns 272,612 shares of the bank’s stock worth $14,189,000 after buying an additional 11,298 shares during the period. NEOS Investment Management LLC boosted its holdings in Bank of New York Mellon by 46.0% in the 4th quarter. NEOS Investment Management LLC now owns 10,902 shares of the bank’s stock worth $567,000 after buying an additional 3,434 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Bank of New York Mellon by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 600,834 shares of the bank’s stock worth $31,273,000 after buying an additional 12,417 shares during the period. KBC Group NV boosted its holdings in Bank of New York Mellon by 217.0% in the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after buying an additional 1,046,298 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Bank of New York Mellon by 1.3% in the 4th quarter. California State Teachers Retirement System now owns 1,233,475 shares of the bank’s stock worth $64,202,000 after buying an additional 15,333 shares during the period. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Citigroup increased their target price 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. Bank of America increased their target price 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. Evercore ISI increased their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group increased their target price 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. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Read Our Latest Report on BK

Insider Buying and Selling

In related news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction on Tuesday, May 7th. The stock was 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 owns 24,346 shares in the company, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. Insiders have sold a total of 115,928 shares of company stock worth $6,475,216 in the last 90 days. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $60.31 on Friday. The firm’s fifty day moving average price is $57.58 and its 200-day moving average price is $54.84. 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 stock has a market cap of $45.10 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $60.67.

Bank of New York Mellon (NYSE:BKGet Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for 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%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.13 EPS. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s payout ratio is presently 40.98%.

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.

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

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