Fidelis Capital Partners LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Fidelis Capital Partners LLC purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,321 shares of the bank’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Vanguard Group Inc. grew its holdings in shares of Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after buying an additional 4,293,751 shares during the last quarter. KBC Group NV boosted its stake in Bank of New York Mellon by 217.0% during the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after purchasing an additional 1,046,298 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Bank of New York Mellon by 6,040.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after purchasing an additional 1,020,906 shares in the last quarter. M&G Plc bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth $55,543,000. Finally, Putnam Investments LLC raised its stake in shares of Bank of New York Mellon by 224.9% in the fourth quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock worth $52,105,000 after purchasing an additional 692,910 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 0.4 %

BK opened at $72.14 on Tuesday. The firm’s 50 day simple moving average is $66.10 and its two-hundred day simple moving average is $60.83. The company has a market capitalization of $53.95 billion, a PE ratio of 16.70, a PEG ratio of 1.17 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $73.19. 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 announced its earnings results 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 analysts’ expectations of $4.53 billion. During the same period last year, the firm earned $1.38 EPS. Bank of New York Mellon’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities 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 business 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. This is a boost 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 dividend yield of 2.61%. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s payout ratio is presently 43.52%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $80.00 in a research report on Monday. Morgan Stanley raised their price target on shares of 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. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Citigroup increased 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 report on Thursday, September 19th. Finally, Evercore ISI lifted their target price on shares of 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. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.86.

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 firm’s stock in a transaction that occurred 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 in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently 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.