Stordahl Capital Management Inc. Takes $201,000 Position in The Bank of New York Mellon Corporation $BK

Stordahl Capital Management Inc. purchased a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 2nd quarter, Holdings Channel reports. The fund purchased 2,206 shares of the bank’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of BK. Alpine Bank Wealth Management bought a new position in Bank of New York Mellon in the first quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in 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 worth $30,000 after buying an additional 196 shares in the last quarter. Orion Capital Management LLC bought a new position in Bank of New York Mellon in the first quarter worth approximately $32,000. Hoey Investments Inc. bought a new position in Bank of New York Mellon in the second quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC raised its stake in Bank of New York Mellon by 226.4% in the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock worth $34,000 after buying an additional 283 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on BK shares. Evercore ISI boosted their price objective on shares of 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. 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 for the company. Morgan Stanley upped their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.62.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $105.77 on Friday. The business’s fifty day simple moving average is $105.59 and its 200-day simple moving average is $94.47. The company has a market cap of $74.59 billion, a PE ratio of 15.26, a PEG ratio of 1.00 and a beta of 1.13. 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 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 announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s payout ratio is 32.37%.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction 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 directly owned 35,115 shares of the company’s stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company 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.