The Bank of New York Mellon Corporation (NYSE:BK) Shares Purchased by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC increased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 52.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,941 shares of the bank’s stock after purchasing an additional 3,741 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Bank of New York Mellon were worth $918,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BK. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Bank of New York Mellon during the 1st quarter worth approximately $25,000. Parvin Asset Management LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth $28,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Morgan Stanley lifted their price objective 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. Evercore ISI boosted their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 2nd. Finally, Truist Financial cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their target price for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.08.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president directly owned 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 0.2%

BK stock opened at $95.02 on Wednesday. The stock has a market cap 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 Bank of New York Mellon Corporation has a twelve month low of $60.93 and a twelve month high of $96.47. The company’s 50 day moving average is $90.10 and its two-hundred day moving average is $84.85.

Bank of New York Mellon (NYSE:BK) last posted its 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. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm posted $1.51 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

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

Bank of New York Mellon 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.