SYSTM Wealth Solutions LLC Has $146,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

SYSTM Wealth Solutions LLC cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 27.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,446 shares of the bank’s stock after selling 914 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Bank of New York Mellon were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth about $30,000. Able Wealth Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $32,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000. Finally, Family Firm Inc. bought a new stake in shares of Bank of New York Mellon in the second quarter worth $40,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.3 %

Shares of Bank of New York Mellon stock opened at $71.04 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $71.80. The company has a market capitalization of $53.12 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.17 and a beta of 1.08. The business has a fifty day simple moving average of $65.63 and a two-hundred day simple moving average of $60.46. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. Bank of New York Mellon’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BK has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research report on Monday, July 15th. Finally, Morgan Stanley increased their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.14.

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.