The Bank of New York Mellon Corporation $BK Shares Acquired by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC raised its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 20.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,833 shares of the bank’s stock after buying an additional 662 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Bank of New York Mellon were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BK. Alpine Bank Wealth Management acquired a new stake in Bank of New York Mellon during the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its stake in Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after buying an additional 196 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Bank of New York Mellon during the first quarter valued at approximately $32,000. Hoey Investments Inc. acquired a new stake in Bank of New York Mellon during the second quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC raised its stake in Bank of New York Mellon by 226.4% during the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BK. BMO Capital Markets assumed coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. TD Cowen assumed coverage on Bank of New York Mellon in a report on Thursday, September 25th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday. Finally, Truist Financial upped their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.62.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $105.77 on Friday. 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 capitalization of $74.59 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13. The business has a 50 day simple moving average of $105.59 and a 200 day simple moving average of $94.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Insiders Place Their Bets

In other Bank of New York Mellon 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 value of $1,969,000.00. Following the completion of the sale, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

About Bank of New York Mellon

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.