Cetera Advisor Networks LLC Has $4.86 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Cetera Advisor Networks LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 6.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 93,306 shares of the bank’s stock after acquiring an additional 5,976 shares during the period. Cetera Advisor Networks LLC’s holdings in Bank of New York Mellon were worth $4,857,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Morningstar Investment Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $2,136,000. Tower Research Capital LLC TRC increased its holdings in shares of Bank of New York Mellon by 214.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 110,336 shares of the bank’s stock valued at $5,743,000 after acquiring an additional 75,216 shares during the last quarter. RBO & Co. LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $208,000. CIBC Private Wealth Group LLC increased its holdings in shares of Bank of New York Mellon by 25.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 53,688 shares of the bank’s stock valued at $2,794,000 after acquiring an additional 10,799 shares during the last quarter. Finally, Rafferty Asset Management LLC grew 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 valued at $14,189,000 after buying an additional 11,298 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI raised their target price on 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. Citigroup raised their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group raised their target price on 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Bank of America raised their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Check Out Our Latest Research Report on BK

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. In related news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The disclosure for this sale can be found here. Insiders sold 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 Price Performance

Bank of New York Mellon stock opened at $60.31 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $45.10 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $60.67. The business has a 50 day simple moving average of $57.58 and a 200 day simple moving average of $54.95.

Bank of New York Mellon (NYSE:BKGet Free Report) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. Bank of New York Mellon’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Bank of New York Mellon Company Profile

(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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