Allen Mooney & Barnes Investment Advisors LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Allen Mooney & Barnes Investment Advisors LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BKFree Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,395 shares of the bank’s stock, valued at approximately $201,000.

Other institutional investors have also recently made changes to their positions in the company. Capital Analysts LLC raised its position in Bank of New York Mellon by 3.7% in the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank’s stock valued at $255,000 after purchasing an additional 119 shares during the period. Cape Investment Advisory Inc. grew its stake in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after buying an additional 131 shares in the last quarter. Syon Capital LLC raised its holdings in shares of Bank of New York Mellon by 2.5% in the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock valued at $417,000 after buying an additional 132 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after acquiring an additional 133 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.5%

Shares of Bank of New York Mellon stock opened at $89.55 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $83.52 and a 200-day simple moving average of $82.81. The stock has a market cap of $64.07 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $90.63.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 earnings per share. On average, equities 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 declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is currently 30.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Truist Financial lowered Bank of New York Mellon from a “buy” rating to a “hold” rating and upped their price objective for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Finally, Wall Street Zen downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.85.

Get Our Latest Analysis on BK

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president now directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company Profile

(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

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

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