The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 30.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,037 shares of the bank’s stock after buying an additional 3,286 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BK. Vanguard Group Inc. increased its stake 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 worth $3,877,801,000 after buying an additional 4,293,751 shares during the period. Artisan Partners Limited Partnership increased its position in Bank of New York Mellon by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock valued at $1,030,254,000 after acquiring an additional 144,162 shares during the period. Norges Bank purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $813,701,000. LSV Asset Management grew its position in Bank of New York Mellon by 1.0% in the 4th quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock valued at $383,723,000 after buying an additional 72,880 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Bank of New York Mellon by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock valued at $351,775,000 after purchasing an additional 223,867 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on BK shares. Morgan Stanley raised their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Barclays lifted their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Citigroup downgraded Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Monday, July 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.14.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.60 during mid-day trading on Monday, reaching $67.00. 2,440,523 shares of the stock were exchanged, compared to its average volume of 3,823,412. The company has a market cap of $50.10 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $67.32. The firm has a 50-day simple moving average of $62.49 and a 200 day simple moving average of $58.84. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. Bank of New York Mellon’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.6 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.81%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now 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 Securities & Exchange Commission, which is available at this link. Corporate 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.