The Bank of New York Mellon Corporation $BK Shares Purchased by Mutual Advisors LLC

Mutual Advisors LLC boosted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,658 shares of the bank’s stock after purchasing an additional 758 shares during the quarter. Mutual Advisors LLC’s holdings in Bank of New York Mellon were worth $571,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management raised its stake in Bank of New York Mellon by 5.3% in the 2nd quarter. Ritholtz Wealth Management now owns 30,710 shares of the bank’s stock valued at $2,798,000 after purchasing an additional 1,540 shares during the last quarter. Harbour Investments Inc. raised its stake in Bank of New York Mellon by 8.9% in the 2nd quarter. Harbour Investments Inc. now owns 1,771 shares of the bank’s stock valued at $161,000 after purchasing an additional 144 shares during the last quarter. Sagespring Wealth Partners LLC increased its stake in shares of Bank of New York Mellon by 10.9% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 8,062 shares of the bank’s stock worth $735,000 after acquiring an additional 791 shares during the last quarter. Morningstar Investment Management LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth $393,000. Finally, NorthRock Partners LLC increased its stake in shares of Bank of New York Mellon by 13.3% in the 2nd quarter. NorthRock Partners LLC now owns 10,497 shares of the bank’s stock worth $956,000 after acquiring an additional 1,232 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 0.9%

Shares of NYSE:BK opened at $105.77 on Monday. The business has a 50-day moving average price of $105.59 and a 200 day moving average price of $94.64. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $74.59 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.98 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.

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

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s payout ratio is currently 30.59%.

Analyst Ratings Changes

A number of brokerages have issued reports on BK. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Wednesday, October 8th. Barclays raised their target price on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. 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 target price for the company. Keefe, Bruyette & Woods raised their target price 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. Finally, Evercore ISI raised their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $109.62.

Insiders Place Their Bets

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 stock was 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 in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.