Dean Capital Management Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Dean Capital Management boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 38.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,432 shares of the bank’s stock after acquiring an additional 8,767 shares during the period. Bank of New York Mellon comprises 1.0% of Dean Capital Management’s portfolio, making the stock its 28th largest holding. Dean Capital Management’s holdings in Bank of New York Mellon were worth $1,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bridgewater Associates LP raised its position in shares of Bank of New York Mellon by 174.4% during the 4th quarter. Bridgewater Associates LP now owns 342,018 shares of the bank’s stock worth $17,802,000 after purchasing an additional 217,358 shares during the last quarter. Visionary Wealth Advisors increased its position in Bank of New York Mellon by 0.9% during the fourth quarter. Visionary Wealth Advisors now owns 138,605 shares of the bank’s stock worth $7,214,000 after buying an additional 1,217 shares in the last quarter. Allen Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth $1,329,000. State of Tennessee Treasury Department lifted its position in shares of Bank of New York Mellon by 19.3% in the fourth quarter. State of Tennessee Treasury Department now owns 635,566 shares of the bank’s stock valued at $33,081,000 after acquiring an additional 102,635 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in Bank of New York Mellon by 4.3% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 67,993 shares of the bank’s stock worth $3,539,000 after purchasing an additional 2,812 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.7 %

NYSE:BK traded up $0.45 during trading hours on Monday, hitting $60.76. The stock had a trading volume of 3,844,236 shares, compared to its average volume of 3,693,564. The company has a market cap of $45.44 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. The business has a 50 day simple moving average of $57.66 and a two-hundred day simple moving average of $55.05. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $60.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. Analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BK. Jefferies Financial Group raised 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 research note on Thursday, April 18th. Morgan Stanley raised 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. Bank of America boosted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Evercore ISI raised their target price 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. Finally, Royal Bank of Canada reiterated 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Buying and Selling at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the transaction, the insider now directly owns 24,346 shares in the company, valued at approximately $1,410,363.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction that occurred on 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 approximately $1,410,363.78. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock worth $6,475,216 in the last 90 days. 0.14% of the stock is owned by corporate 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.