McGlone Suttner Wealth Management Inc. Takes $255,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

McGlone Suttner Wealth Management Inc. bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel reports. The fund bought 4,905 shares of the bank’s stock, valued at approximately $255,000.

Several other institutional investors also recently added to or reduced their stakes in BK. Acadian Asset Management LLC increased its stake in Bank of New York Mellon by 160.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after buying an additional 3,297 shares during the period. Prudential PLC bought a new position in Bank of New York Mellon during the 1st quarter worth about $1,096,000. Cetera Investment Advisers grew its holdings in Bank of New York Mellon by 3.3% during the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock worth $1,769,000 after acquiring an additional 1,154 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Bank of New York Mellon by 54.3% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock worth $11,519,000 after acquiring an additional 81,728 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in Bank of New York Mellon by 165.3% during the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock worth $72,000 after acquiring an additional 909 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, VP Hanneke Smits sold 15,425 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the completion of the transaction, the vice president now directly owns 119,656 shares of the company’s stock, valued at approximately $6,600,224.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Hanneke Smits sold 15,425 shares of Bank of New York Mellon stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total value of $850,843.00. Following the sale, the vice president now owns 119,656 shares of the company’s stock, valued at approximately $6,600,224.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BK shares. UBS Group increased their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. upgraded shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price target on the stock in a report on Monday, December 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Finally, Citigroup increased their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Hold” and a consensus target price of $55.65.

Bank of New York Mellon Stock Performance

BK traded up $0.70 during trading on Thursday, reaching $57.63. 3,116,276 shares of the company’s stock were exchanged, compared to its average volume of 4,036,419. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $57.88. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $43.39 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. The company’s fifty day simple moving average is $55.42 and its 200-day simple moving average is $49.80.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. Bank of New York Mellon’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.26 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Monday, January 22nd were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Friday, January 19th. Bank of New York Mellon’s dividend payout ratio (DPR) is 42.32%.

Bank of New York Mellon Company Profile

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.