Tectonic Advisors LLC Purchases 463 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Tectonic Advisors LLC boosted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 5.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,625 shares of the bank’s stock after purchasing an additional 463 shares during the period. Tectonic Advisors LLC’s holdings in Bank of New York Mellon were worth $807,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BK. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon in the 4th quarter worth about $220,000. EverSource Wealth Advisors LLC boosted its stake in Bank of New York Mellon by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,295 shares of the bank’s stock valued at $99,000 after acquiring an additional 259 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Bank of New York Mellon by 2.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 162,376 shares of the bank’s stock valued at $12,475,000 after acquiring an additional 4,200 shares during the last quarter. Natixis Advisors LLC boosted its stake in Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock valued at $21,971,000 after acquiring an additional 17,457 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Bank of New York Mellon by 15.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 58,892 shares of the bank’s stock valued at $4,525,000 after acquiring an additional 7,863 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $95.02 on Wednesday. The stock has a market capitalization of $67.98 billion, a P/E ratio of 15.48, a PEG ratio of 1.03 and a beta of 1.07. 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 firm’s 50 day moving average is $90.10 and its 200 day moving average is $84.85. The Bank of New York Mellon Corporation has a 12 month low of $60.93 and a 12 month high of $96.47.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.20. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.80 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 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. On average, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.23%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s dividend payout ratio is 30.62%.

Analysts Set New Price Targets

BK has been the topic of a number of research analyst reports. Citigroup boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Truist Financial cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley boosted their target price on shares of 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. Finally, Evercore ISI boosted their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.08.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president owned 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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.