Clear Street Markets LLC Raises Stake in The Bank of New York Mellon Co. (NYSE:BK)

Clear Street Markets LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 93.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,442 shares of the bank’s stock after buying an additional 698 shares during the quarter. Clear Street Markets LLC’s holdings in Bank of New York Mellon were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in shares of Bank of New York Mellon by 32.7% in the 1st quarter. Signaturefd LLC now owns 13,698 shares of the bank’s stock worth $622,000 after buying an additional 3,374 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Bank of New York Mellon by 77.6% in the 1st quarter. Personal CFO Solutions LLC now owns 9,761 shares of the bank’s stock worth $444,000 after buying an additional 4,266 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Bank of New York Mellon in the 1st quarter worth about $235,000. MAI Capital Management boosted its holdings in shares of Bank of New York Mellon by 12.7% in the 4th quarter. MAI Capital Management now owns 18,806 shares of the bank’s stock worth $856,000 after buying an additional 2,113 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Bank of New York Mellon by 24.8% in the 1st quarter. Toronto Dominion Bank now owns 521,792 shares of the bank’s stock valued at $23,697,000 after acquiring an additional 103,846 shares during the period. 81.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of research reports. Citigroup lowered their price objective on Bank of New York Mellon from $58.00 to $55.00 in a research note on Wednesday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $43.00 to $44.00 in a research note on Wednesday, July 19th. Evercore ISI lowered their price objective on Bank of New York Mellon from $49.00 to $46.00 in a research note on Friday, May 12th. Finally, StockNews.com initiated coverage on Bank of New York Mellon in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.90.

Bank of New York Mellon Trading Down 0.5 %

Shares of BK opened at $44.47 on Thursday. The business’s 50-day moving average price is $44.77 and its 200-day moving average price is $44.44. The Bank of New York Mellon Co. has a twelve month low of $36.22 and a twelve month high of $52.26. The stock has a market cap of $34.63 billion, a PE ratio of 13.03, a P/E/G ratio of 1.18 and a beta of 1.10. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.94.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, July 18th. The bank reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.16. The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Bank of New York Mellon had a net margin of 10.95% and a return on equity of 11.88%. Bank of New York Mellon’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 4.85 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Friday, July 28th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.78%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, July 27th. Bank of New York Mellon’s dividend payout ratio is 48.98%.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 14,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $45.64, for a total value of $641,013.80. Following the transaction, the insider now directly owns 23,816 shares in the company, valued at $1,086,962.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $46.33, for a total value of $1,621,550.00. Following the completion of the sale, the executive vice president now owns 98,102 shares of the company’s stock, valued at $4,545,065.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 14,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $45.64, for a total value of $641,013.80. Following the completion of the sale, the insider now directly owns 23,816 shares of the company’s stock, valued at approximately $1,086,962.24. The disclosure for this sale can be found here. 0.10% of the stock is owned by company 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.