Farmers National Bank acquired a new position in shares of Bank of New York Mellon Corp (NYSE:BK) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 35,905 shares of the bank’s stock, valued at approximately $1,811,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Bank of New York Mellon by 1.5% during the 4th quarter. BlackRock Inc. now owns 54,968,976 shares of the bank’s stock worth $2,587,391,000 after purchasing an additional 805,925 shares during the period. FMR LLC raised its stake in shares of Bank of New York Mellon by 36.4% during the 4th quarter. FMR LLC now owns 32,610,453 shares of the bank’s stock worth $1,534,974,000 after purchasing an additional 8,695,718 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Bank of New York Mellon by 2.0% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,843,432 shares of the bank’s stock worth $698,679,000 after purchasing an additional 292,800 shares during the period. Macquarie Group Ltd. raised its stake in shares of Bank of New York Mellon by 4.7% during the 4th quarter. Macquarie Group Ltd. now owns 14,529,096 shares of the bank’s stock worth $683,885,000 after purchasing an additional 647,347 shares during the period. Finally, Harris Associates L P raised its stake in Bank of New York Mellon by 5.4% in the 4th quarter. Harris Associates L P now owns 10,826,019 shares of the bank’s stock valued at $509,581,000 after acquiring an additional 552,515 shares during the period. 87.88% of the stock is owned by institutional investors.

In other news, insider Kurtis R. Kurimsky sold 5,797 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.00, for a total transaction of $307,241.00. Following the completion of the transaction, the insider now owns 18,483 shares of the company’s stock, valued at $979,599. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bridget E. Engle sold 22,670 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $52.99, for a total value of $1,201,283.30. Following the transaction, the vice president now directly owns 92,150 shares of the company’s stock, valued at approximately $4,883,028.50. The disclosure for this sale can be found here. Insiders have sold a total of 853,244 shares of company stock valued at $43,210,239 in the last ninety days. Insiders own 1.71% of the company’s stock.

BK stock opened at $47.01 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.84. The stock has a market cap of $45.15 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.41 and a beta of 1.01. Bank of New York Mellon Corp has a twelve month low of $43.67 and a twelve month high of $58.22.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.02). The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Bank of New York Mellon had a net margin of 20.69% and a return on equity of 10.98%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 EPS. Sell-side analysts expect that Bank of New York Mellon Corp will post 4.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Monday, April 29th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, April 26th. Bank of New York Mellon’s payout ratio is presently 26.60%.

A number of brokerages recently issued reports on BK. ValuEngine cut Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Zacks Investment Research cut Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Buckingham Research lowered their price objective on Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Vining Sparks restated a “buy” rating and issued a $55.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 23rd. Finally, Deutsche Bank boosted their price objective on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Bank of New York Mellon currently has an average rating of “Hold” and an average price target of $53.75.

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About Bank of New York Mellon

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.

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

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