Evercore Wealth Management LLC Makes New $204,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Evercore Wealth Management LLC bought a new position in The Bank of New York Mellon Co. (NYSE:BKFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,913 shares of the bank’s stock, valued at approximately $204,000.

Other large investors have also added to or reduced their stakes in the company. United Services Automobile Association grew its position in shares of Bank of New York Mellon by 6.9% during the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after acquiring an additional 1,640 shares during the period. Searle & CO. purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $234,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after buying an additional 40,969 shares in the last quarter. Janney Capital Management LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $243,000. Finally, Trust Point Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $310,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bank of New York Mellon 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 value of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,928 shares of company stock worth $6,475,216. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BK shares. Bank of America lifted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Evercore ISI boosted their price target 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. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Citigroup boosted 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. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.17.

Read Our Latest Analysis on BK

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $60.76 on Tuesday. The company’s 50-day moving average price is $57.66 and its 200-day moving average price is $55.05. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.87. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a market cap of $45.44 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08.

Bank of New York Mellon (NYSE:BKGet Free Report) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the firm posted $1.13 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research 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 company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued 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 yield of 2.76%. Bank of New York Mellon’s payout ratio is 40.98%.

Bank of New York Mellon 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.

See Also

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

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