Interchange Capital Partners LLC Sells 2,575 Shares of The Bank of New York Mellon Corporation $BK

Interchange Capital Partners LLC trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK) by 71.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,051 shares of the bank’s stock after selling 2,575 shares during the period. Interchange Capital Partners LLC’s holdings in Bank of New York Mellon were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BK. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon in the 4th quarter worth about $220,000. GAMMA Investing LLC boosted its stake in Bank of New York Mellon by 14.9% in the first quarter. GAMMA Investing LLC now owns 16,692 shares of the bank’s stock valued at $1,400,000 after acquiring an additional 2,168 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Bank of New York Mellon by 29.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank’s stock valued at $18,740,000 after acquiring an additional 50,368 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Bank of New York Mellon in the first quarter valued at about $25,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in Bank of New York Mellon in the first quarter valued at about $1,765,000. 85.31% of the stock is owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Up 0.7%

BK opened at $107.04 on Wednesday. The company has a 50 day moving average of $105.32 and a 200 day moving average of $94.06. The company has a market cap of $75.49 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The company had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. On average, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BK. Truist Financial boosted their target price on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Wells Fargo & Company boosted their target price 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. TD Cowen began coverage on shares of Bank of New York Mellon in a research note on Thursday, September 25th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Ten 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.77.

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.