Cwm LLC Has $28.87 Million Stake in The Bank of New York Mellon Corporation $BK

Cwm LLC trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 316,899 shares of the bank’s stock after selling 14,612 shares during the quarter. Cwm LLC’s holdings in Bank of New York Mellon were worth $28,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $25,000. Hoey Investments Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $32,000. Orion Capital Management LLC acquired a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $32,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Bank of New York Mellon by 100.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after buying an additional 196 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

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 12 month low of $70.46 and a 12 month high of $110.87. The firm 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 stock has a 50 day moving average of $105.10 and a 200-day moving average of $93.80. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 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 during the quarter. On average, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. 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. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

BK has been the subject of several analyst reports. Morgan Stanley boosted their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.77.

Insider Activity at Bank of New York Mellon

In other 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 transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

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.