Evercore Wealth Management LLC Buys Shares of 3,913 The Bank of New York Mellon Co. (NYSE:BK)

Evercore Wealth Management LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 3,913 shares of the bank’s stock, valued at approximately $204,000.

Several other hedge funds have also recently added to or reduced their stakes in BK. Personal CFO Solutions LLC boosted its stake in shares of Bank of New York Mellon by 10.5% during the 4th quarter. Personal CFO Solutions LLC now owns 5,222 shares of the bank’s stock worth $272,000 after purchasing an additional 497 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in shares of Bank of New York Mellon by 16.1% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 12,350 shares of the bank’s stock worth $643,000 after purchasing an additional 1,710 shares during the last quarter. Wealth Quarterback LLC boosted its stake in shares of Bank of New York Mellon by 2.4% during the 4th quarter. Wealth Quarterback LLC now owns 13,980 shares of the bank’s stock worth $728,000 after purchasing an additional 329 shares during the last quarter. Prudential PLC boosted its stake in shares of Bank of New York Mellon by 0.5% during the 4th quarter. Prudential PLC now owns 99,139 shares of the bank’s stock worth $5,160,000 after purchasing an additional 518 shares during the last quarter. Finally, Kolinsky Wealth Management LLC boosted its stake in shares of Bank of New York Mellon by 5.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 12,767 shares of the bank’s stock worth $665,000 after purchasing an additional 606 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.7 %

Shares of BK stock opened at $60.76 on Tuesday. The stock has a market cap of $45.44 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. 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 Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $60.87. The firm’s 50 day moving average price is $57.66 and its two-hundred day moving average price is $55.05.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Bank of New York Mellon’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.76%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BK shares. Bank of America raised their price target 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. Morgan Stanley raised their target price 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 report on Thursday, April 18th. Citigroup raised 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 report on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group raised 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 report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.17.

Get Our Latest Research Report on Bank of New York Mellon

Insider Activity

In other news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on 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 sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on 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 sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the sale, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock worth $6,475,216 over the last 90 days. Company insiders own 0.14% of the company’s stock.

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.

See Also

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BKFree Report).

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

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