Interchange Capital Partners LLC Grows Position in The Bank of New York Mellon Corporation $BK

Interchange Capital Partners LLC boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 7.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,913 shares of the bank’s stock after purchasing an additional 287 shares during the period. Interchange Capital Partners LLC’s holdings in Bank of New York Mellon were worth $356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $220,000. GAMMA Investing LLC lifted its holdings in Bank of New York Mellon by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 16,692 shares of the bank’s stock valued at $1,400,000 after buying an additional 2,168 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Bank of New York Mellon by 3.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,131 shares of the bank’s stock valued at $514,000 after buying an additional 213 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Bank of New York Mellon by 226.4% during the 1st quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after buying an additional 283 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in Bank of New York Mellon by 5.8% during the 1st quarter. Perigon Wealth Management LLC now owns 6,741 shares of the bank’s stock valued at $565,000 after buying an additional 372 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.2%

Shares of Bank of New York Mellon stock opened at $107.91 on Monday. The firm’s 50 day moving average price is $106.07 and its 200-day moving average price is $95.79. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87. The company has a market cap of $76.10 billion, a P/E ratio of 15.57, a PEG ratio of 0.99 and a beta of 1.13.

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 (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. On average, sell-side 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s payout ratio is presently 30.59%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BK. TD Cowen lifted their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, October 20th. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Truist Financial boosted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Finally, Barclays boosted their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.29.

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.