Semmax Financial Advisors Inc. Has $723,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Semmax Financial Advisors Inc. lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,376 shares of the bank’s stock after purchasing an additional 1,162 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Bank of New York Mellon were worth $723,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Bank of New York Mellon by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after purchasing an additional 165 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Bank of New York Mellon by 3.8% during the 2nd quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after buying an additional 171 shares during the period. Greenleaf Trust grew its holdings in Bank of New York Mellon by 0.7% in the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock worth $1,633,000 after purchasing an additional 187 shares during the period. 1858 Wealth Management LLC raised its holdings in shares of Bank of New York Mellon by 4.0% during the second quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock valued at $291,000 after purchasing an additional 188 shares during the period. Finally, Vivaldi Capital Management LP boosted its position in shares of Bank of New York Mellon by 3.3% during the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock worth $324,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In related news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BK shares. Barclays increased their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Evercore ISI lifted their price target 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. Keefe, Bruyette & Woods restated 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. Citigroup raised their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley boosted their target price 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. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $67.86.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $72.14 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market cap of $53.95 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.17 and a beta of 1.08. The company’s 50 day moving average price is $66.10 and its two-hundred day moving average price is $60.83. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $73.19.

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

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.61%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s payout ratio is presently 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.