Commerzbank Aktiengesellschaft FI Raises Stock Holdings in The Bank of New York Mellon Corporation $BK

Commerzbank Aktiengesellschaft FI boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,933 shares of the bank’s stock after buying an additional 915 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bank of New York Mellon were worth $1,543,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BK. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth about $220,000. Farther Finance Advisors LLC raised its position in Bank of New York Mellon by 88.9% in the 1st quarter. Farther Finance Advisors LLC now owns 8,952 shares of the bank’s stock worth $750,000 after buying an additional 4,213 shares during the last quarter. GAMMA Investing LLC raised its position in Bank of New York Mellon by 14.9% in the 1st quarter. GAMMA Investing LLC now owns 16,692 shares of the bank’s stock worth $1,400,000 after buying an additional 2,168 shares during the last quarter. Simplicity Wealth LLC grew its stake in shares of Bank of New York Mellon by 6.7% during the 1st quarter. Simplicity Wealth LLC now owns 4,562 shares of the bank’s stock valued at $383,000 after purchasing an additional 285 shares during the period. Finally, Simon Quick Advisors LLC grew its stake in shares of Bank of New York Mellon by 44.5% during the 1st quarter. Simon Quick Advisors LLC now owns 7,787 shares of the bank’s stock valued at $653,000 after purchasing an additional 2,398 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.1%

Shares of NYSE:BK opened at $104.63 on Friday. The stock has a 50 day moving average of $105.10 and a 200 day moving average of $93.68. The company has a market cap of $73.79 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The company had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. As a group, equities research analysts expect 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. Investors of record on Friday, July 25th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s payout ratio is presently 32.37%.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business’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 transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BK. Evercore ISI boosted their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Wednesday. Citigroup boosted their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, The Goldman Sachs Group boosted their price target on 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. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.77.

Bank of New York Mellon 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.