Fiera Capital Corp Boosts Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Fiera Capital Corp grew its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 19.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,930 shares of the bank’s stock after buying an additional 16,741 shares during the period. Fiera Capital Corp’s holdings in Bank of New York Mellon were worth $8,717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon in the first quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at about $25,000. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $28,000. Finally, Cornerstone Planning Group LLC grew its position in shares of 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 purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction that occurred on 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 owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company raised their price target on shares of 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. Keefe, Bruyette & Woods raised their price target 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 raised their price target on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a “hold” rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley raised their price target on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $94.38.

Bank of New York Mellon Stock Up 1.2%

Shares of NYSE:BK opened at $101.85 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $92.41 and a two-hundred day moving average of $86.39. The company has a market capitalization of $72.87 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The Bank of New York Mellon Corporation has a 52-week low of $60.93 and a 52-week high of $102.02.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.21. The company 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 company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be paid a $0.53 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.08%. Bank of New York Mellon’s payout ratio is presently 32.37%.

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.