Quent Capital LLC Boosts Position in The Bank of New York Mellon Corporation $BK

Quent Capital LLC boosted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 12.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,447 shares of the bank’s stock after buying an additional 480 shares during the period. Quent Capital LLC’s holdings in Bank of New York Mellon were worth $405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 111 Capital raised its holdings in Bank of New York Mellon by 112.4% in the 2nd quarter. 111 Capital now owns 18,026 shares of the bank’s stock valued at $1,642,000 after buying an additional 9,541 shares during the period. QRG Capital Management Inc. raised its holdings in Bank of New York Mellon by 18.9% in the 2nd quarter. QRG Capital Management Inc. now owns 459,266 shares of the bank’s stock valued at $41,844,000 after buying an additional 73,112 shares during the period. Stock Yards Bank & Trust Co. raised its holdings in Bank of New York Mellon by 33.0% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 3,332 shares of the bank’s stock valued at $304,000 after buying an additional 826 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at about $249,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Bank of New York Mellon by 4.8% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 132,629 shares of the bank’s stock valued at $12,084,000 after buying an additional 6,037 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK opened at $106.48 on Friday. The stock has a 50 day moving average price of $104.60 and a 200 day moving average price of $92.99. 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 company has a market capitalization of $75.09 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 earnings per share. Research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. Bank of New York Mellon’s dividend payout ratio is currently 32.37%.

Insider Transactions at Bank of New York Mellon

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BK shares. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research note on Friday. They set an “outperform” rating and a $125.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target 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. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.46.

Bank of New York Mellon Company 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.