Brighton Jones LLC Buys 1,125 Shares of The Bank of New York Mellon Corporation $BK

Brighton Jones LLC raised its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,576 shares of the bank’s stock after acquiring an additional 1,125 shares during the period. Brighton Jones LLC’s holdings in Bank of New York Mellon were worth $690,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BK. Cornerstone Planning Group LLC grew its position in 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 acquiring an additional 196 shares during the period. Orion Capital Management LLC bought a new stake in Bank of New York Mellon in the first quarter valued at $32,000. Hoey Investments Inc. bought a new stake in Bank of New York Mellon in the second quarter valued at $32,000. Golden State Wealth Management LLC grew its position in Bank of New York Mellon by 226.4% in the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after acquiring an additional 283 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in Bank of New York Mellon in the first quarter valued at $34,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.9%

Shares of BK opened at $108.59 on Wednesday. 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 12-month low of $70.46 and a 12-month high of $110.87. The firm has a market capitalization of $76.58 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The stock’s fifty day simple moving average is $106.34 and its 200-day simple moving average is $96.21.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion for the quarter. As a group, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Analyst Ratings Changes

A number of research firms have commented on BK. BMO Capital Markets began coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective on the stock. The Goldman Sachs Group boosted their price objective 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. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Morgan Stanley boosted their price objective 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, Truist Financial boosted their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently 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.