D L Carlson Investment Group Inc. Sells 410 Shares of The Bank of New York Mellon Corporation $BK

D L Carlson Investment Group Inc. lowered its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,987 shares of the bank’s stock after selling 410 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Bank of New York Mellon were worth $3,354,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Sax Wealth Advisors LLC grew its stake in Bank of New York Mellon by 2.3% during the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after buying an additional 117 shares during the last quarter. Capital Analysts LLC grew its stake in Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank’s stock worth $255,000 after buying an additional 119 shares during the last quarter. Hemington Wealth Management grew its stake in Bank of New York Mellon by 8.0% during the first quarter. Hemington Wealth Management now owns 1,628 shares of the bank’s stock worth $136,000 after buying an additional 121 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Bank of New York Mellon by 13.8% during the first quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock worth $86,000 after buying an additional 125 shares during the last quarter. Finally, Haverford Trust Co grew its stake in Bank of New York Mellon by 4.3% during the first quarter. Haverford Trust Co now owns 3,133 shares of the bank’s stock worth $263,000 after buying an additional 130 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president owned 35,115 shares of the company’s stock, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 1.4%

Shares of NYSE:BK opened at $104.54 on Wednesday. The Bank of New York Mellon Corporation has a 12 month low of $66.01 and a 12 month high of $104.76. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $97.52 and its 200 day simple moving average is $88.89. The firm has a market cap of $73.73 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.97 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.21. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 earnings per share. As a group, research analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. Bank of New York Mellon’s payout ratio is 32.37%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Truist Financial increased their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Thursday, August 14th. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.08.

About Bank of New York Mellon

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.