Sivia Capital Partners LLC Buys New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Sivia Capital Partners LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,485 shares of the bank’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BK. Norges Bank purchased a new position in Bank of New York Mellon during the fourth quarter worth $1,150,462,000. FMR LLC boosted its stake in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after buying an additional 3,732,862 shares during the period. Northern Trust Corp boosted its stake in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock worth $732,468,000 after buying an additional 1,526,686 shares during the period. GAMMA Investing LLC boosted its stake in Bank of New York Mellon by 9,538.9% during the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank’s stock worth $117,414,000 after buying an additional 1,385,434 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Bank of New York Mellon during the fourth quarter worth $90,955,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BK. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 3rd. Truist Financial lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Wall Street Zen lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.85.

Insider Activity

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,114 shares of company stock worth $7,869,795. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK opened at $90.02 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm’s 50 day moving average price is $82.99 and its 200-day moving average price is $82.72. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.63. The company has a market cap of $64.41 billion, a PE ratio of 15.49, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.09%. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

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.