34,900 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Bayesian Capital Management LP

Bayesian Capital Management LP acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 1st quarter, HoldingsChannel reports. The firm acquired 34,900 shares of the bank’s stock, valued at approximately $2,011,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Wetzel Investment Advisors Inc. increased its position in Bank of New York Mellon by 82.1% during the first quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after purchasing an additional 230 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $28,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon during the first quarter valued at about $32,000. Finally, Hartford Financial Management Inc. increased its position in shares of Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the transaction, the insider now directly owns 24,346 shares in the company, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. Insiders sold 36,858 shares of company stock valued at $2,223,504 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 1.1 %

BK traded up $0.74 on Tuesday, reaching $65.33. 1,513,261 shares of the company’s stock were exchanged, compared to its average volume of 3,815,481. The company’s 50 day moving average is $60.50 and its 200-day moving average is $57.64. The company has a market cap of $48.86 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.16 and a beta of 1.09. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $65.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Equities analysts predict that The Bank of New York Mellon Co. will post 5.58 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be given a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a report on Monday, July 15th. Finally, Barclays upped their target price on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $65.86.

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.