Syon Capital LLC Purchases New Position in The Bank of New York Mellon Co. (NYSE:BK)

Syon Capital LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,481 shares of the bank’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC raised its holdings in shares of Bank of New York Mellon by 3.8% in the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after buying an additional 182 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 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 fourth quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after buying an additional 192 shares during the last quarter. Certuity LLC raised its holdings in shares of Bank of New York Mellon by 2.3% in the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after buying an additional 205 shares during the last quarter. Finally, Choreo LLC raised its holdings in Bank of New York Mellon by 1.8% during the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after purchasing an additional 208 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares in the company, valued at $8,343,165.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now owns 144,721 shares in the company, valued at $8,343,165.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock worth $6,475,216 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BK. Bank of America increased their price target 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. Jefferies Financial Group increased their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Morgan Stanley upped their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Stock Up 0.9 %

BK stock opened at $58.68 on Wednesday. The company’s 50 day simple moving average is $57.82 and its 200-day simple moving average is $55.50. The firm has a market capitalization of $43.88 billion, a PE ratio of 14.31, a P/E/G ratio of 1.19 and a beta of 1.08. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $60.87. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 earnings per share. Equities analysts expect that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a $0.42 dividend. The ex-dividend date was Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.86%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

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.