Oppenheimer Asset Management Inc. Has $742,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Oppenheimer Asset Management Inc. lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,396 shares of the bank’s stock after selling 2,021 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Bank of New York Mellon were worth $742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Gilbert & Cook Inc. lifted its position in Bank of New York Mellon by 4.7% during the fourth quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock worth $487,000 after purchasing an additional 419 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Bank of New York Mellon by 8.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 8,679 shares of the bank’s stock worth $452,000 after acquiring an additional 684 shares in the last quarter. Corient Private Wealth LLC increased its stake in Bank of New York Mellon by 7.2% in the fourth quarter. Corient Private Wealth LLC now owns 312,188 shares of the bank’s stock valued at $16,249,000 after acquiring an additional 20,917 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $257,000. Finally, Franklin Resources Inc. increased its stake in shares of Bank of New York Mellon by 27.9% in the 4th quarter. Franklin Resources Inc. now owns 731,241 shares of the bank’s stock valued at $38,061,000 after purchasing an additional 159,698 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the topic of several research analyst reports. Citigroup lifted their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Barclays raised their target price on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Evercore ISI increased their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.59.

Insider Buying and Selling

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

Bank of New York Mellon Stock Up 0.1 %

Shares of BK opened at $71.82 on Friday. The stock’s 50-day moving average price is $65.98 and its two-hundred day moving average price is $60.65. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $71.96. The company has a market capitalization of $53.71 billion, a PE ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.62%. Bank of New York Mellon’s dividend payout ratio is 43.52%.

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.