Dean Capital Management Grows Holdings in The Bank of New York Mellon Corporation $BK

Dean Capital Management lifted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 32,339 shares of the bank’s stock after acquiring an additional 723 shares during the quarter. Bank of New York Mellon makes up approximately 1.2% of Dean Capital Management’s investment portfolio, making the stock its 11th biggest position. Dean Capital Management’s holdings in Bank of New York Mellon were worth $2,712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MBB Public Markets I LLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $316,000. Ascent Group LLC grew its position in shares of Bank of New York Mellon by 52.4% in the 1st quarter. Ascent Group LLC now owns 23,477 shares of the bank’s stock worth $1,969,000 after buying an additional 8,072 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $1,035,000. Arete Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $228,000. Finally, Great Lakes Advisors LLC grew its position in Bank of New York Mellon by 3.2% during the 1st quarter. Great Lakes Advisors LLC now owns 39,976 shares of the bank’s stock valued at $3,353,000 after purchasing an additional 1,242 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BK has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Thursday, August 14th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price objective 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 report on Wednesday, July 16th. Finally, Evercore ISI increased their price objective 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 report on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.62.

Bank of New York Mellon Stock Performance

BK stock opened at $104.06 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average price of $100.07 and a 200 day moving average price of $90.03. The company has a market capitalization of $73.39 billion, a P/E ratio of 15.89, a PEG ratio of 0.98 and a beta of 1.14. The Bank of New York Mellon Corporation has a 1-year low of $66.01 and a 1-year high of $106.57.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. The firm 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 return on equity of 13.46% and a net margin of 12.27%.The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. As a group, equities 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. The ex-dividend date was Friday, July 25th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Insider Buying and Selling at Bank of New York Mellon

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

Bank of New York Mellon 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.