The Bank of New York Mellon Corporation $BK Shares Purchased by Almanack Investment Partners LLC.

Almanack Investment Partners LLC. lifted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 12.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,207 shares of the bank’s stock after purchasing an additional 1,454 shares during the period. Almanack Investment Partners LLC.’s holdings in Bank of New York Mellon were worth $1,203,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its holdings in shares of Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after purchasing an additional 196 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Finally, Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of 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. The Goldman Sachs Group boosted their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. TD Cowen assumed coverage on shares of Bank of New York Mellon in a report on Thursday, September 25th. They set a “buy” rating for the company. Finally, BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target for the company. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.77.

Bank of New York Mellon Stock Down 2.1%

Shares of NYSE:BK opened at $104.63 on Monday. The company has a market capitalization of $73.79 billion, a PE ratio of 15.97, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87. The firm has a 50 day simple moving average of $105.10 and a 200-day simple moving average of $93.80.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. On average, equities analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a dividend of $0.53 per share. The ex-dividend date was Friday, July 25th. 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. Bank of New York Mellon’s payout ratio is presently 32.37%.

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.