Bailard Inc. Raises Position in The Bank of New York Mellon Corporation (NYSE:BK)

Bailard Inc. boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 28.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,341 shares of the bank’s stock after acquiring an additional 6,460 shares during the period. Bailard Inc.’s holdings in Bank of New York Mellon were worth $2,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BK. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in Bank of New York Mellon during the first quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon during the first quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $28,000. Finally, REAP Financial Group LLC boosted its stake in shares of Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after purchasing an additional 218 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BK shares. Morgan Stanley upped their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial boosted their price objective on Bank of New York Mellon from $97.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday. Citigroup boosted their price objective on 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. Finally, Evercore ISI upped 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 report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $94.38.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The stock was 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. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Up 2.6%

Shares of BK opened at $97.95 on Friday. The company has a market capitalization of $70.08 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company has a current ratio of 0.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $90.58 and its 200 day moving average is $85.07. The Bank of New York Mellon Corporation has a 12-month low of $60.93 and a 12-month high of $98.50.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the company earned $1.51 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 9.4% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be given a $0.53 dividend. 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 2.16%. The ex-dividend date of this dividend is Friday, July 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.