The Bank of New York Mellon Corporation $BK Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lowered its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 19.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,065 shares of the bank’s stock after selling 51,064 shares during the period. J. Safra Sarasin Holding AG’s holdings in Bank of New York Mellon were worth $19,686,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Canada Post Corp Registered Pension Plan purchased a new stake in Bank of New York Mellon in the 1st quarter valued at about $1,035,000. TrueMark Investments LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter worth approximately $4,282,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Bank of New York Mellon by 29.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank’s stock worth $18,740,000 after acquiring an additional 50,368 shares during the last quarter. Formidable Asset Management LLC purchased a new stake in Bank of New York Mellon in the first quarter valued at approximately $247,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Bank of New York Mellon by 121.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank’s stock worth $15,399,000 after purchasing an additional 100,810 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $106.32 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The Bank of New York Mellon Corporation has a 1-year low of $70.41 and a 1-year high of $110.87. The company has a market capitalization of $74.98 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.01 and a beta of 1.13. The business has a 50-day moving average of $104.49 and a 200-day moving average of $92.76.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.73 by $0.21. The business 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 return on equity of 13.46% and a net margin of 12.27%.The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.51 EPS. On average, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were paid a $0.53 dividend. This represents a $2.12 annualized dividend 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 payout ratio is currently 32.37%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BK shares. Truist Financial lifted their price target on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the company a “hold” rating in a report on Thursday. TD Cowen began coverage on Bank of New York Mellon in a report on Thursday, September 25th. They issued a “buy” rating on the stock. Citigroup upped their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $101.67.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, the executive vice president owned 35,115 shares of the company’s stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.