The Bank of New York Mellon Corporation $BK Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 10.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,092 shares of the bank’s stock after acquiring an additional 12,013 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Bank of New York Mellon were worth $11,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hemington Wealth Management raised its position in shares of Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after purchasing an additional 102 shares during the period. Confluence Wealth Services Inc. raised its position in shares of Bank of New York Mellon by 1.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock worth $1,072,000 after purchasing an additional 111 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. raised its position in shares of Bank of New York Mellon by 2.2% during the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after purchasing an additional 112 shares during the period. Sax Wealth Advisors LLC raised its position in shares of Bank of New York Mellon by 2.3% during the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after purchasing an additional 117 shares during the period. Finally, Y.D. More Investments Ltd raised its position in shares of Bank of New York Mellon by 13.8% during the 1st quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock worth $86,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. TD Cowen assumed coverage on Bank of New York Mellon in a research report on Thursday, September 25th. They set a “buy” rating on the stock. Evercore ISI raised their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Truist Financial raised their target price on Bank of New York Mellon from $109.00 to $118.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group raised their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Wells Fargo & Company raised their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.77.

Bank of New York Mellon Stock Down 2.1%

Shares of BK stock opened at $104.63 on Monday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The stock has a market cap of $73.79 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The business’s fifty day moving average is $105.10 and its 200-day moving average is $93.80. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The company had revenue of $4.38 billion for the quarter. Equities 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 declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a dividend of $0.53 per share. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s payout ratio is 32.37%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, July 22nd. The stock was 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 in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

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.