Transcend Capital Advisors LLC Buys 2,036 Shares of The Bank of New York Mellon Corporation $BK

Transcend Capital Advisors LLC boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 51.6% in the second quarter, Holdings Channel reports. The firm owned 5,984 shares of the bank’s stock after acquiring an additional 2,036 shares during the period. Transcend Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Canada Post Corp Registered Pension Plan bought a new stake in Bank of New York Mellon during the first quarter worth approximately $1,035,000. Formidable Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $247,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Bank of New York Mellon by 121.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank’s stock valued at $15,399,000 after acquiring an additional 100,810 shares during the period. Genus Capital Management Inc. bought a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $2,559,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after acquiring an additional 1,052,145 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $108.59 on Wednesday. The business has a fifty day simple moving average of $106.34 and a 200 day simple moving average of $96.21. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $76.58 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $110.87.

Bank of New York Mellon (NYSE:BK) last issued its 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 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion during the quarter. Sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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 paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BK shares. Evercore ISI increased their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley increased their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. BMO Capital Markets started coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. Citigroup increased their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.29.

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.