Cetera Advisors LLC Buys 54,407 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Cetera Advisors LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 551.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,274 shares of the bank’s stock after purchasing an additional 54,407 shares during the period. Cetera Advisors LLC’s holdings in Bank of New York Mellon were worth $3,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BK. Hartford Financial Management Inc. grew its position in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares in the last quarter. Greenleaf Trust grew its position in Bank of New York Mellon by 0.7% during the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock worth $1,633,000 after buying an additional 187 shares in the last quarter. Semmax Financial Advisors Inc. increased its stake in Bank of New York Mellon by 1.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after acquiring an additional 189 shares during the last quarter. Vivaldi Capital Management LP raised its holdings in shares of Bank of New York Mellon by 3.3% in the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after acquiring an additional 192 shares in the last quarter. Finally, Certuity LLC raised its holdings in shares of Bank of New York Mellon by 2.3% in the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after acquiring an additional 205 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BK traded down $1.52 during mid-day trading on Friday, reaching $63.12. The stock had a trading volume of 6,162,182 shares, compared to its average volume of 4,774,799. The firm has a market cap of $47.20 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $65.90. The business has a fifty day moving average of $60.95 and a 200 day moving average of $57.88. 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 released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share 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 analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. Equities analysts predict that The Bank of New York Mellon Co. will post 5.6 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.98%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup cut 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 research report on Monday, July 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Bank of America raised their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group increased their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.86.

Insider Transactions at Bank of New York Mellon

In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,858 shares of company stock valued at $2,223,504. 0.14% of the stock is currently owned by insiders.

About Bank of New York Mellon

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.