The Bank of New York Mellon Corporation (NYSE:BK) Stock Position Lifted by Woodward Diversified Capital LLC

Woodward Diversified Capital LLC boosted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,860 shares of the bank’s stock after buying an additional 269 shares during the quarter. Woodward Diversified Capital LLC’s holdings in Bank of New York Mellon were worth $408,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Graypoint LLC increased its stake in shares of Bank of New York Mellon by 54.2% in the first quarter. Graypoint LLC now owns 11,009 shares of the bank’s stock worth $923,000 after purchasing an additional 3,869 shares during the period. Burns Matteson Capital Management LLC increased its stake in shares of Bank of New York Mellon by 30.5% in the first quarter. Burns Matteson Capital Management LLC now owns 4,166 shares of the bank’s stock worth $349,000 after purchasing an additional 973 shares during the period. Napatree Capital LLC increased its stake in shares of Bank of New York Mellon by 6.2% in the first quarter. Napatree Capital LLC now owns 2,885 shares of the bank’s stock worth $242,000 after purchasing an additional 169 shares during the period. Mechanics Financial Corp increased its position in Bank of New York Mellon by 60.0% during the first quarter. Mechanics Financial Corp now owns 3,200 shares of the bank’s stock worth $268,000 after acquiring an additional 1,200 shares during the period. Finally, Parcion Private Wealth LLC increased its position in Bank of New York Mellon by 38.2% during the first quarter. Parcion Private Wealth LLC now owns 3,664 shares of the bank’s stock worth $307,000 after acquiring an additional 1,012 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.3%

Shares of NYSE BK opened at $95.43 on Thursday. The firm’s 50-day simple moving average is $90.33 and its 200 day simple moving average is $84.93. The company has a market cap of $68.27 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12-month low of $60.93 and a 12-month high of $96.47.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.21. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.57%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. On average, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Friday, July 25th will be issued a dividend of $0.53 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, July 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial boosted their target price on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday. Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.38.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president directly owned 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

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.