Tompkins Financial Corp Buys 1,635 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Tompkins Financial Corp grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 119.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,000 shares of the bank’s stock after buying an additional 1,635 shares during the quarter. Tompkins Financial Corp’s holdings in Bank of New York Mellon were worth $173,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Bank of New York Mellon in the fourth quarter valued at approximately $813,701,000. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 4,293,751 shares in the last quarter. KBC Group NV increased its holdings in Bank of New York Mellon by 217.0% during the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after buying an additional 1,046,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bank of New York Mellon by 153.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after acquiring an additional 941,193 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after acquiring an additional 715,421 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Bank of America raised their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Jefferies Financial Group boosted their target price on 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. Morgan Stanley increased their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Stock Up 0.9 %

BK stock opened at $58.68 on Thursday. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week 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. The stock has a market capitalization of $43.88 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.20 and a beta of 1.08. The business’s fifty day moving average price is $57.88 and its two-hundred day moving average price is $55.52.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations 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 revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

Insider Activity

In related news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock valued at $6,475,216 over the last quarter. 0.14% of the stock is owned by company 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.