MBB Public Markets I LLC Takes $3.29 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

MBB Public Markets I LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 54,850 shares of the bank’s stock, valued at approximately $3,285,000.

Other institutional investors also recently bought and sold shares of the company. Olistico Wealth LLC bought a new position in Bank of New York Mellon in the second quarter worth about $30,000. Able Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Bank of New York Mellon during the first quarter valued at approximately $32,000. Clearstead Trust LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $32,000. Finally, Family Firm Inc. purchased a new position in Bank of New York Mellon in the second quarter worth $40,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Evercore ISI raised their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $80.00 in a report on Monday, September 23rd. Barclays increased their price objective 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. 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. Finally, Citigroup raised their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.88.

Bank of New York Mellon Price Performance

NYSE:BK opened at $71.70 on Friday. The firm’s fifty day moving average is $66.74 and its two-hundred day moving average is $61.25. The firm has a market cap of $53.62 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $73.19.

Bank of New York Mellon (NYSE:BK) last posted 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. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the company earned $1.38 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect 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 declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.62%. Bank of New York Mellon’s dividend payout ratio is 43.52%.

About Bank of New York Mellon

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.