Duality Advisers LP bought a new stake in Bank of New York Mellon Corp (NYSE:BK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,607 shares of the bank’s stock, valued at approximately $1,647,000.
Other large investors have also recently added to or reduced their stakes in the company. Capstone Financial Group Inc. bought a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $25,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the second quarter valued at approximately $25,000. Patriot Financial Group Insurance Agency LLC grew its stake in Bank of New York Mellon by 123.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 656 shares of the bank’s stock valued at $25,000 after purchasing an additional 362 shares in the last quarter. Heritage Wealth Advisors increased its position in shares of Bank of New York Mellon by 4,232.1% during the 2nd quarter. Heritage Wealth Advisors now owns 30,325 shares of the bank’s stock worth $27,000 after purchasing an additional 29,625 shares during the last quarter. Finally, Ellevest Inc. raised its stake in shares of Bank of New York Mellon by 135.1% during the 2nd quarter. Ellevest Inc. now owns 804 shares of the bank’s stock worth $31,000 after purchasing an additional 462 shares in the last quarter. 81.65% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. Seaport Global Securities assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 8th. They set a “buy” rating and a $51.00 target price on the stock. Evercore ISI raised shares of Bank of New York Mellon from an “underperform” rating to an “in-line” rating in a report on Sunday, April 19th. Barclays reiterated a “buy” rating and issued a $54.00 target price on shares of Bank of New York Mellon in a research note on Thursday, April 9th. UBS Group lowered their price target on Bank of New York Mellon from $56.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Jefferies Financial Group raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $45.00 in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.97.
BK stock opened at $35.85 on Friday. Bank of New York Mellon Corp has a fifty-two week low of $26.40 and a fifty-two week high of $51.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.68 and a quick ratio of 0.72. The stock has a market capitalization of $31.74 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 1.15 and a beta of 1.10. The business’s fifty day moving average price is $37.53 and its two-hundred day moving average price is $38.56.
Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.91 billion. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 10.34%. Bank of New York Mellon’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. Research analysts expect that Bank of New York Mellon Corp will post 3.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Monday, July 27th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.46%. Bank of New York Mellon’s payout ratio is 30.85%.
In other news, EVP Mitchell E. Harris sold 35,000 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $35.75, for a total transaction of $1,251,250.00. Following the sale, the executive vice president now directly owns 145,425 shares of the company’s stock, valued at approximately $5,198,943.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.12, for a total value of $351,200.00. Following the completion of the transaction, the executive vice president now owns 119,870 shares in the company, valued at approximately $4,209,834.40. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.
Bank of New York Mellon Company Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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