SRN Advisors LLC Has $1.26 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

SRN Advisors LLC trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,990 shares of the bank’s stock after selling 2,010 shares during the period. SRN Advisors LLC’s holdings in Bank of New York Mellon were worth $1,257,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI raised its position 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 acquiring an additional 165 shares during the period. Lake Street Advisors Group LLC lifted its holdings in Bank of New York Mellon by 3.8% during the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after acquiring an additional 171 shares in the last quarter. Greenleaf Trust grew its stake 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 valued at $1,633,000 after acquiring an additional 187 shares during the period. 1858 Wealth Management LLC increased its holdings in shares of Bank of New York Mellon by 4.0% in the second quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock worth $291,000 after acquiring an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. lifted its holdings in shares of Bank of New York Mellon by 1.9% during the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock valued at $591,000 after purchasing an additional 189 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BK shares. 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 note on Monday, July 15th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon 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 boosted their price target for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Finally, Barclays increased their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.38.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the company’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 completion of the sale, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 1.0 %

Bank of New York Mellon stock opened at $71.12 on Wednesday. The company’s 50-day moving average price is $67.06 and its two-hundred day moving average price is $61.53. 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 $53.18 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.24 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month 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 analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. Bank of New York Mellon’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, July 22nd. 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%.

Bank of New York Mellon Company 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.