Verdence Capital Advisors LLC Purchases 509 Shares of The Bank of New York Mellon Corporation $BK

Verdence Capital Advisors LLC lifted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,534 shares of the bank’s stock after acquiring an additional 509 shares during the period. Verdence Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $2,144,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after acquiring an additional 196 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $32,000. Finally, Hoey Investments Inc. purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $32,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BK. Wells Fargo & Company upped their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group upped their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Truist Financial upped their price target on Bank of New York Mellon from $109.00 to $118.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Morgan Stanley upped their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Finally, TD Cowen began coverage on Bank of New York Mellon in a research note on Thursday, September 25th. They issued a “buy” rating on the stock. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.77.

Bank of New York Mellon Stock Performance

Shares of BK opened at $106.26 on Tuesday. The business’s fifty day simple moving average is $105.19 and its two-hundred day simple moving average is $93.97. 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 12 month low of $70.46 and a 12 month high of $110.87. The company has a market cap of $74.94 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The business had revenue of $4.38 billion for the quarter. Research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

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.