The Bank of New York Mellon Corporation $BK Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.8% in the second quarter, HoldingsChannel.com reports. The firm owned 2,433 shares of the bank’s stock after selling 390 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Bank of New York Mellon were worth $222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hemington Wealth Management boosted its position in shares of Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after acquiring an additional 102 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Bank of New York Mellon by 1.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock worth $1,072,000 after acquiring an additional 111 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in Bank of New York Mellon by 2.2% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock valued at $464,000 after purchasing an additional 112 shares in the last quarter. Sax Wealth Advisors LLC boosted its holdings in Bank of New York Mellon by 2.3% in the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock valued at $443,000 after purchasing an additional 117 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in Bank of New York Mellon by 13.8% in the first quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock valued at $86,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.4%

Shares of NYSE:BK opened at $106.60 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 stock has a market cap of $75.18 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.98 and a beta of 1.13. The firm has a fifty day moving average price of $105.93 and a 200 day moving average price of $95.28. 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 announced its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The business had revenue of $4.38 billion during the quarter. Sell-side analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday. Citigroup upped their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Morgan Stanley upped 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 research note on Monday, September 29th. Finally, The Goldman Sachs Group upped their target price on 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. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

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.