2,523 Shares in The Bank of New York Mellon Corporation $BK Acquired by OMNI 360 Wealth Inc.

Key Points

• OMNI 360 Wealth Inc. has acquired 2,523 shares of The Bank of New York Mellon Corporation, valued at approximately $230,000.
• The bank recently announced an increase in its quarterly dividend from $0.47 to $0.53 per share, reflecting a 2.0% dividend yield.
• Bank of New York Mellon reported earnings of $1.94 per share in its latest quarter, exceeding analysts' expectations of $1.73.

OMNI 360 Wealth Inc. purchased a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 2,523 shares of the bank's stock, valued at approximately $230,000.

A number of other large investors also recently made changes to their positions in the business. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at $1,035,000. TrueMark Investments LLC acquired a new stake in Bank of New York Mellon in the 1st quarter worth about $4,282,000. Wealth Enhancement Advisory Services LLC grew its holdings in Bank of New York Mellon by 29.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank's stock valued at $18,740,000 after buying an additional 50,368 shares during the period. Formidable Asset Management LLC acquired a new position in shares of Bank of New York Mellon during the 1st quarter valued at about $247,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Bank of New York Mellon by 121.8% during the 1st 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 last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the firm'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 transaction of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Trading Up 0.8%

NYSE BK opened at $106.46 on Monday. The stock has a market cap of $75.08 billion, a P/E ratio of 16.25, a PEG ratio of 1.00 and a beta of 1.14. The company's fifty day simple moving average is $101.15 and its 200-day simple moving average is $90.54. 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 52 week low of $68.51 and a 52 week high of $106.57.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the business earned $1.51 EPS. The business's revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given 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 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon's dividend payout ratio is presently 32.37%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BK. Citigroup boosted 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. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Truist Financial increased their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company lifted their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average target price of $96.62.

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.

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