Rise Advisors LLC Purchases 138 Shares of The Bank of New York Mellon Corporation $BK

Rise Advisors LLC lifted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 41.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 469 shares of the bank’s stock after buying an additional 138 shares during the quarter. Rise Advisors LLC’s holdings in Bank of New York Mellon were worth $39,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $25,000. REAP Financial Group LLC boosted its position in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after purchasing an additional 218 shares during the period. Cornerstone Planning Group LLC boosted its position in Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after purchasing an additional 196 shares during the period. Finally, Orion Capital Management LLC bought a new stake in Bank of New York Mellon during the first quarter worth approximately $32,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 1.8%

Shares of BK stock opened at $103.69 on Friday. The Bank of New York Mellon Corporation has a 12 month low of $66.01 and a 12 month high of $106.57. The firm has a market cap of $73.12 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The stock has a 50 day moving average of $99.81 and a 200-day moving average of $89.89. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company earned $1.51 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on 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, July 16th. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Evercore ISI upped their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 2nd. Morgan Stanley upped their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Finally, Truist Financial upped their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.62.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.