Motco Has $6.29 Million Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Motco decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,001 shares of the bank’s stock after selling 11,561 shares during the quarter. Motco’s holdings in Bank of New York Mellon were worth $6,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after buying an additional 3,732,862 shares in the last quarter. Norges Bank acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth $1,150,462,000. Ameriprise Financial Inc. lifted its position in Bank of New York Mellon by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank’s stock worth $908,281,000 after purchasing an additional 35,413 shares during the period. Northern Trust Corp grew its stake in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock worth $732,468,000 after buying an additional 1,526,686 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BK. Evercore ISI boosted their target price on shares of 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. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Truist Financial upped their price objective on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the company a “hold” rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.38.

Bank of New York Mellon Stock Up 1.0%

Shares of NYSE BK opened at $100.96 on Friday. The Bank of New York Mellon Corporation has a 12 month low of $60.93 and a 12 month high of $101.16. 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 firm has a fifty day simple moving average of $91.96 and a two-hundred day simple moving average of $85.99. The firm has a market capitalization of $72.23 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the business earned $1.51 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. Equities analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be paid a $0.53 dividend. The ex-dividend date is Friday, July 25th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.10%. Bank of New York Mellon’s payout ratio is currently 28.70%.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president directly owned 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is owned by insiders.

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.