Accredited Investors Inc. Takes $822,000 Position in Bank of New York Mellon Corp (BK)

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Accredited Investors Inc. bought a new position in Bank of New York Mellon Corp (NYSE:BK) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 16,291 shares of the bank’s stock, valued at approximately $822,000.

Several other institutional investors have also recently added to or reduced their stakes in BK. Pacer Advisors Inc. acquired a new position in Bank of New York Mellon during the first quarter worth $3,708,000. Lindbrook Capital LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at about $80,000. Hudson Capital Management LLC boosted its stake in Bank of New York Mellon by 10.1% during the fourth quarter. Hudson Capital Management LLC now owns 11,494 shares of the bank’s stock valued at $541,000 after buying an additional 1,053 shares in the last quarter. LPL Financial LLC boosted its stake in Bank of New York Mellon by 5.0% during the fourth quarter. LPL Financial LLC now owns 87,998 shares of the bank’s stock valued at $4,142,000 after buying an additional 4,187 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE boosted its stake in Bank of New York Mellon by 1.5% during the first quarter. Smithbridge Asset Management Inc. DE now owns 69,555 shares of the bank’s stock valued at $3,508,000 after buying an additional 995 shares in the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

In other news, Director Trian Fund Management, L.P. sold 2,107,000 shares of the business’s stock in a transaction on Monday, January 28th. The shares were sold at an average price of $53.48, for a total transaction of $112,682,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward P. Garden sold 171,960 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $52.28, for a total transaction of $8,990,068.80. The disclosure for this sale can be found here. Insiders sold a total of 3,713,437 shares of company stock worth $198,594,100 in the last ninety days. 1.71% of the stock is currently owned by insiders.

A number of brokerages have recently commented on BK. Deutsche Bank increased their price objective on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 15th. Vining Sparks reiterated a “buy” rating and set a $55.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 23rd. Zacks Investment Research upgraded Bank of New York Mellon from a “sell” rating to a “hold” rating in a report on Monday, January 21st. Finally, Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $52.00 in a report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.14.

NYSE BK traded down $4.27 on Wednesday, hitting $49.17. 5,790,082 shares of the company’s stock were exchanged, compared to its average volume of 4,481,753. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.70 and a quick ratio of 0.70. Bank of New York Mellon Corp has a 52 week low of $43.67 and a 52 week high of $58.22. The stock has a market capitalization of $50.22 billion, a PE ratio of 11.68, a PEG ratio of 1.50 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.02). The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 earnings per share. As a group, sell-side analysts expect that Bank of New York Mellon Corp will post 4.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Monday, April 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.28%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.60%.

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Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

Read More: Green Investing

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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