The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 269,386 shares of the bank’s stock after purchasing an additional 7,025 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Bank of New York Mellon were worth $15,987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BK. Commerzbank Aktiengesellschaft FI grew its holdings in 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 buying an additional 165 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in Bank of New York Mellon by 3.8% in the 2nd quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock valued at $281,000 after buying an additional 171 shares during the last quarter. Greenleaf Trust grew its holdings in Bank of New York Mellon by 0.7% in the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after buying an additional 187 shares during the last quarter. 1858 Wealth Management LLC grew its holdings in Bank of New York Mellon by 4.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock valued at $291,000 after buying an additional 188 shares during the last quarter. Finally, Semmax Financial Advisors Inc. lifted its position in shares of Bank of New York Mellon by 1.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after acquiring an additional 189 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Evercore ISI boosted 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. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, August 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 note on Monday, July 15th. Morgan Stanley boosted their price target on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Barclays boosted their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $66.14.

Bank of New York Mellon Stock Performance

BK opened at $68.70 on Monday. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $69.74. The stock has a market cap of $50.70 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.17 and a beta of 1.08. The business has a 50 day moving average of $64.99 and a 200-day moving average of $60.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last year, the firm posted $1.38 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect 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 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 of this dividend was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.74%. 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 Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction that occurred 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 $11,150,652.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.