May Barnhard Investments LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

May Barnhard Investments LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,806 shares of the bank’s stock, valued at approximately $487,000.

A number of other institutional investors also recently modified their holdings of BK. Parvin Asset Management LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $28,000. REAP Financial Group LLC grew its position in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $33,000. Finally, South Plains Financial Inc. purchased a new stake in Bank of New York Mellon during the 4th quarter worth about $34,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 0.5%

Shares of BK opened at $89.55 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a 50 day simple moving average of $83.52 and a two-hundred day simple moving average of $82.81. The firm has a market cap of $64.07 billion, a P/E ratio of 15.41, a P/E/G ratio of 0.97 and a beta of 1.08.

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

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.10%. Bank of New York Mellon’s dividend payout ratio is currently 30.62%.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the transaction, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock worth $7,869,795 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Truist Financial cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Evercore ISI increased their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Wall Street Zen cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.85.

Bank of New York Mellon 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.