Warner Financial Inc. Makes New Investment in The Bank of New York Mellon Corporation (NYSE:BK)

Warner Financial Inc. purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,033 shares of the bank’s stock, valued at approximately $506,000.

Several other large investors also recently modified their holdings of BK. Parvin Asset Management LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the 1st quarter valued at about $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $28,000. REAP Financial Group LLC boosted its holdings in 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 worth $30,000 after acquiring an additional 218 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock worth $7,869,795 over the last 90 days. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Down 0.8%

NYSE BK opened at $89.75 on Wednesday. The Bank of New York Mellon Corporation has a 12 month low of $57.79 and a 12 month high of $90.63. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average price is $84.68 and its 200-day moving average price is $83.05. The stock has a market cap of $64.21 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.03 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the previous year, the business posted $1.29 EPS. Bank of New York Mellon’s revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS 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, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial lowered Bank of New York Mellon from a “buy” rating to a “hold” rating and upped their target price for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Morgan Stanley upped 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 report on Tuesday, June 3rd. Wells Fargo & Company raised their price target 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 report on Monday, March 3rd. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Finally, Citigroup upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $91.85.

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.