Mn Services Vermogensbeheer B.V. Sells 8,800 Shares of The Bank of New York Mellon Corporation $BK

Mn Services Vermogensbeheer B.V. decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 268,316 shares of the bank’s stock after selling 8,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Bank of New York Mellon were worth $24,446,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Bank of New York Mellon in the first quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the first quarter worth about $25,000. Orion Capital Management LLC bought a new stake in Bank of New York Mellon in the first quarter worth about $32,000. Cornerstone Planning Group LLC lifted its stake in Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after purchasing an additional 196 shares during the last quarter. Finally, REAP Financial Group LLC lifted its stake in Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $108.51 on Friday. The firm has a market cap of $76.52 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.01 and a beta of 1.14. The company’s 50 day moving average is $102.24 and its 200 day moving average is $91.02. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 52-week low of $70.41 and a 52-week high of $108.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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. 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 was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $1.51 earnings per share. On average, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was 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 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is 32.37%.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BK has been the subject of several analyst reports. Wells Fargo & Company raised their price objective 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 note on Wednesday, July 16th. Truist Financial raised their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” 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. 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. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.62.

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.