Personal CFO Solutions LLC Acquires 210 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Personal CFO Solutions LLC grew its position in The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,120 shares of the bank’s stock after acquiring an additional 210 shares during the quarter. Personal CFO Solutions LLC’s holdings in Bank of New York Mellon were worth $597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BK. Alpine Bank Wealth Management bought a new stake in shares of Bank of New York Mellon during the first quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in Bank of New York Mellon in the 1st quarter worth about $25,000. Parvin Asset Management LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth about $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth about $28,000. Finally, REAP Financial Group LLC boosted its position in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BK shares. Evercore ISI boosted their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, July 2nd. Truist Financial lowered Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their price target for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley upped their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.08.

Bank of New York Mellon Stock Down 0.6%

Shares of NYSE BK opened at $92.72 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12-month low of $59.41 and a 12-month high of $93.79. The stock has a market capitalization of $66.33 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.04 and a beta of 1.07. The firm’s 50-day moving average price is $88.86 and its 200-day moving average price is $84.29.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. Bank of New York Mellon’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $1.29 earnings per share. On average, equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.03%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.62%.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president directly owned 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider owned 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

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.