Intrinsic Value Partners LLC Sells 4,445 Shares of The Bank of New York Mellon Corporation $BK

Intrinsic Value Partners LLC trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 12.0% in the second quarter, Holdings Channel reports. The fund owned 32,489 shares of the bank’s stock after selling 4,445 shares during the quarter. Bank of New York Mellon comprises approximately 2.6% of Intrinsic Value Partners LLC’s investment portfolio, making the stock its 12th biggest holding. Intrinsic Value Partners LLC’s holdings in Bank of New York Mellon were worth $2,960,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon during the first quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in shares of Bank of New York Mellon during the first quarter valued at about $25,000. Cornerstone Planning Group LLC raised its position in shares of 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 during the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter valued at about $32,000. Finally, Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $32,000. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $106.48 on Friday. The firm has a market cap of $75.09 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.00 and a beta of 1.13. The company has a 50 day moving average of $104.60 and a 200-day moving average of $92.93. 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 1-year low of $70.46 and a 1-year high of $110.87.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.21. The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.51 earnings per share. On average, equities 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. TD Cowen assumed coverage on shares of Bank of New York Mellon in a research report on Thursday, September 25th. They set a “buy” rating for the company. Truist Financial upped their price objective on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the company a “hold” rating in a research report on Thursday. Weiss Ratings reissued a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Saturday, September 27th. Finally, Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.46.

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.