2,266 Shares in The Bank of New York Mellon Corporation $BK Purchased by Abel Hall LLC

Abel Hall LLC purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,266 shares of the bank’s stock, valued at approximately $206,000.

Other large investors have also recently added to or reduced their stakes in the company. Canada Post Corp Registered Pension Plan purchased a new position in Bank of New York Mellon during the first quarter worth about $1,035,000. TrueMark Investments LLC purchased a new position in Bank of New York Mellon during the first quarter worth about $4,282,000. Wealth Enhancement Advisory Services LLC increased its holdings 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 buying an additional 50,368 shares in the last quarter. Formidable Asset Management LLC purchased a new position in Bank of New York Mellon in the first quarter valued at about $247,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Bank of New York Mellon by 121.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank’s stock valued at $15,399,000 after buying an additional 100,810 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BK. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price for the company. Wells Fargo & Company increased 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 report on Wednesday, July 16th. The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Keefe, Bruyette & Woods increased 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 report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.77.

Bank of New York Mellon Stock Down 0.9%

BK stock opened at $106.02 on Thursday. The company’s 50 day simple moving average is $104.89 and its 200-day simple moving average is $93.39. The firm has a market capitalization of $74.77 billion, a PE ratio of 16.19, a P/E/G ratio of 1.00 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 debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.73 by $0.21. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 earnings per share. Equities analysts expect 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 announced a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were given a dividend of $0.53 per share. 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 was Friday, July 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

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.