Greenleaf Trust Has $1.47 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Greenleaf Trust boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,162 shares of the bank’s stock after acquiring an additional 1,645 shares during the period. Greenleaf Trust’s holdings in Bank of New York Mellon were worth $1,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bank of New York Mellon by 22.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after acquiring an additional 40,969 shares in the last quarter. Trust Point Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $310,000. WCG Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon in the third quarter valued at approximately $1,552,000. Meeder Asset Management Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $1,298,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Bank of New York Mellon by 22.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after purchasing an additional 465,229 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BK shares. 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. Bank of America raised their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Finally, Citigroup lifted their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.06.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $56.29 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $55.76 and its 200 day simple moving average is $51.30. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The firm has a market capitalization of $42.38 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the business posted $1.13 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

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.