The Bank of New York Mellon Corporation (NYSE:BK) Position Increased by Bailard Inc.

Bailard Inc. lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 28.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 29,341 shares of the bank's stock after purchasing an additional 6,460 shares during the quarter. Bailard Inc.'s holdings in Bank of New York Mellon were worth $2,461,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Alpine Bank Wealth Management acquired a new stake in Bank of New York Mellon in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon during the first quarter worth $25,000. Parvin Asset Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at about $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon in the fourth quarter worth $28,000. Finally, Cornerstone Planning Group LLC boosted its holdings in 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 purchasing an additional 196 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BK has been the topic of a number of research analyst reports. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Finally, Truist Financial lifted their target price on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $94.38.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.89 on Friday, hitting $98.81. 5,658,224 shares of the company traded hands, compared to its average volume of 4,131,177. The business has a 50-day simple moving average of $90.58 and a 200 day simple moving average of $85.07. The Bank of New York Mellon Corporation has a 52 week low of $60.93 and a 52 week high of $99.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72. The stock has a market capitalization of $70.69 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 0.96 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Research analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be given a $0.53 dividend. The ex-dividend date of this dividend is 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 2.15%. Bank of New York Mellon's dividend payout ratio is 30.62%.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president directly owned 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

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.