Olistico Wealth LLC Makes New $30,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Olistico Wealth LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 500 shares of the bank’s stock, valued at approximately $30,000.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $813,701,000. Vanguard Group Inc. boosted its position in Bank of New York Mellon by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after acquiring an additional 4,293,751 shares in the last quarter. KBC Group NV raised its position in shares of Bank of New York Mellon by 217.0% in the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after acquiring an additional 1,046,298 shares in the last quarter. M&G Plc purchased a new stake in Bank of New York Mellon in the first quarter worth $55,543,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after purchasing an additional 941,193 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK traded down $0.49 on Wednesday, reaching $61.70. The company’s stock had a trading volume of 3,704,659 shares, compared to its average volume of 3,866,979. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $65.90. The stock has a market capitalization of $46.14 billion, a P/E ratio of 14.63, a PEG ratio of 1.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71. The stock’s 50 day simple moving average is $61.08 and its two-hundred day simple moving average is $58.00.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s payout ratio is presently 43.52%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BK shares. Jefferies Financial Group boosted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Monday, July 15th. Barclays increased their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Evercore ISI increased their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.86.

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.