The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Werba Rubin Papier Wealth Management

Werba Rubin Papier Wealth Management reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,825 shares of the bank’s stock after selling 157 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in Bank of New York Mellon were worth $237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $220,000. Loomis Sayles & Co. L P grew its position in shares of Bank of New York Mellon by 32.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,840 shares of the bank’s stock valued at $141,000 after purchasing an additional 446 shares during the last quarter. Blair William & Co. IL grew its position in shares of Bank of New York Mellon by 3.9% in the fourth quarter. Blair William & Co. IL now owns 24,605 shares of the bank’s stock valued at $1,890,000 after purchasing an additional 930 shares during the last quarter. New Age Alpha Advisors LLC grew its position in shares of Bank of New York Mellon by 5,626.8% in the fourth quarter. New Age Alpha Advisors LLC now owns 14,546 shares of the bank’s stock valued at $1,118,000 after purchasing an additional 14,292 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Bank of New York Mellon by 12.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 485,346 shares of the bank’s stock valued at $37,289,000 after purchasing an additional 52,112 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 0.3%

Shares of BK opened at $100.59 on Tuesday. The firm has a market cap of $71.97 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company’s fifty day moving average is $92.17 and its two-hundred day moving average is $86.28. The Bank of New York Mellon Corporation has a fifty-two week low of $60.93 and a fifty-two week high of $101.16. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.21. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. Bank of New York Mellon’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.51 EPS. Analysts forecast 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 firm also recently announced 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, July 25th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.37%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley increased their price target 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. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods raised 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 report on Wednesday, July 16th. Truist Financial raised their target price on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday, July 16th. Finally, Evercore ISI raised 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 research report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.38.

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.