Scissortail Wealth Management LLC Buys New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Scissortail Wealth Management LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, HoldingsChannel.com reports. The fund bought 10,025 shares of the bank’s stock, valued at approximately $560,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Bank of New York Mellon during the fourth quarter worth about $503,489,000. Moneta Group Investment Advisors LLC grew its stake in Bank of New York Mellon by 74,433.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after buying an additional 6,106,537 shares during the last quarter. Barclays PLC grew its stake in Bank of New York Mellon by 126.2% during the second quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock worth $128,462,000 after buying an additional 1,609,730 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Bank of New York Mellon during the first quarter worth about $66,916,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Bank of New York Mellon by 142.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock worth $69,125,000 after buying an additional 951,730 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.0 %

BK traded down $1.09 during trading on Wednesday, reaching $54.00. 8,232,834 shares of the company’s stock were exchanged, compared to its average volume of 3,131,460. The company’s fifty day moving average price is $55.75 and its 200-day moving average price is $51.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The firm has a market capitalization of $40.65 billion, a PE ratio of 13.60, a P/E/G ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its quarterly 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 company 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 10.01% and a return on equity of 11.63%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.11%. Bank of New York Mellon’s dividend payout ratio is 42.32%.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BK. Citigroup raised their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. UBS Group raised their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.72.

Bank of New York Mellon Company 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.