Private Trust Co. NA Grows Holdings in The Bank of New York Mellon Corporation $BK

Private Trust Co. NA boosted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,690 shares of the bank’s stock after acquiring an additional 420 shares during the period. Private Trust Co. NA’s holdings in Bank of New York Mellon were worth $701,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Bank of New York Mellon in the first quarter valued at about $25,000. Hoey Investments Inc. acquired a new position in Bank of New York Mellon in the second quarter worth $32,000. Orion Capital Management LLC bought a new stake in Bank of New York Mellon during the first quarter valued at $32,000. Cornerstone Planning Group LLC lifted its position in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after buying an additional 196 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $36,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

NYSE BK opened at $105.77 on Friday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The business’s fifty day moving average is $105.59 and its two-hundred day moving average is $94.54. The stock has a market capitalization of $74.59 billion, a P/E ratio of 15.26, a P/E/G ratio of 0.99 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70.

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

Bank of New York Mellon Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays raised their price target on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $109.62.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction 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 transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 0.14% of the stock is currently 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.