The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 134.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,597 shares of the bank’s stock after purchasing an additional 6,081 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Bank of New York Mellon were worth $611,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $813,701,000. Vanguard Group Inc. grew its position in Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after acquiring an additional 4,293,751 shares in the last quarter. KBC Group NV grew its position in Bank of New York Mellon by 217.0% in the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after acquiring an additional 1,046,298 shares in the last quarter. M&G Plc acquired a new stake in Bank of New York Mellon in the first quarter valued at approximately $55,543,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after acquiring an additional 941,193 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK stock traded up $0.54 during mid-day trading on Friday, reaching $65.35. The company had a trading volume of 3,898,661 shares, compared to its average volume of 4,424,193. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $48.87 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.16 and a beta of 1.09. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $65.90. The stock’s 50-day simple moving average is $60.39 and its two-hundred day simple moving average is $57.52.

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, beating analysts’ consensus estimates of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.58 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.88%. 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 is Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Activity

In related news, 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 transaction of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. 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 transaction, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,858 shares of company stock valued at $2,223,504. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BK. Barclays increased their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Jefferies Financial Group increased their target price on 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. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Citigroup cut Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Monday, July 15th. Finally, Evercore ISI raised their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.23.

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.