Interchange Capital Partners LLC Purchases 287 Shares of The Bank of New York Mellon Corporation $BK

Interchange Capital Partners LLC increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,913 shares of the bank’s stock after purchasing an additional 287 shares during the period. Interchange Capital Partners LLC’s holdings in Bank of New York Mellon were worth $356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hemington Wealth Management grew its stake in Bank of New York Mellon by 6.3% during the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock valued at $157,000 after acquiring an additional 102 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in Bank of New York Mellon by 1.0% during the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 111 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in Bank of New York Mellon by 2.2% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock valued at $464,000 after acquiring an additional 112 shares in the last quarter. Sax Wealth Advisors LLC grew its stake in Bank of New York Mellon by 2.3% during the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock valued at $443,000 after acquiring an additional 117 shares in the last quarter. Finally, Y.D. More Investments Ltd grew its stake in Bank of New York Mellon by 13.8% during the first quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock valued at $86,000 after acquiring an additional 125 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $107.91 on Monday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87. The stock has a market capitalization of $76.10 billion, a P/E ratio of 15.57, a PEG ratio of 0.99 and a beta of 1.13. The firm has a fifty day simple moving average of $106.07 and a two-hundred day simple moving average of $95.79. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion during the quarter. On average, 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s payout ratio is currently 30.59%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Barclays raised their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Finally, BMO Capital Markets began coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

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.