Bank of New York Mellon Corp Invests $14.74 Million in Deluxe Corporation $DLX

Key Points

• Bank of New York Mellon acquired 617,221 shares of Deluxe worth approximately $14.74 million, giving it a 1.35% stake. Institutional investors and hedge funds collectively own 93.9% of the company.
• Deluxe beat quarterly earnings expectations with EPS of $0.87 versus $0.81 anticipated and revenue of $499.3 million, although revenue declined 4.2% year over year.
• The stock recently traded at $22.79, down 1.3%, while Deluxe maintained a quarterly dividend of $0.30, equivalent to a 5.3% annualized yield. Analysts broadly rate the shares “Hold.”

Bank of New York Mellon Corp purchased a new stake in Deluxe Corporation (NYSE:DLX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 617,221 shares of the business services provider's stock, valued at approximately $14,739,000. Bank of New York Mellon Corp owned about 1.35% of Deluxe as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Deluxe in the 1st quarter valued at about $30,000. Raymond James Financial Inc. acquired a new position in shares of Deluxe during the second quarter worth approximately $31,000. UMB Bank n.a. grew its stake in shares of Deluxe by 3,597.9% during the fourth quarter. UMB Bank n.a. now owns 1,738 shares of the business services provider's stock valued at $39,000 after purchasing an additional 1,691 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Deluxe by 33.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,179 shares of the business services provider's stock worth $49,000 after purchasing an additional 552 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Deluxe during the 4th quarter worth $114,000. Institutional investors and hedge funds own 93.90% of the company's stock.

Deluxe Trading Down 1.3%

Shares of NYSE DLX opened at $22.79 on Wednesday. The company's 50 day simple moving average is $24.78 and its 200 day simple moving average is $25.84. Deluxe Corporation has a fifty-two week low of $17.76 and a fifty-two week high of $32.07. The firm has a market capitalization of $1.05 billion, a P/E ratio of 10.13, a P/E/G ratio of 0.56 and a beta of 1.25. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.20 and a quick ratio of 1.08.

Deluxe (NYSE:DLX - Get Free Report) last released its earnings results on Wednesday, August 5th. The business services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. The firm had revenue of $499.30 million during the quarter, compared to analyst estimates of $486.30 million. Deluxe had a net margin of 4.91% and a return on equity of 23.51%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. On average, analysts predict that Deluxe Corporation will post 3.41 EPS for the current year.

Deluxe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.20 annualized dividend and a yield of 5.3%. Deluxe's dividend payout ratio is presently 53.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen cut Deluxe from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings lowered Deluxe from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Deluxe Company Profile

Deluxe Corporation, founded in 1915 and headquartered in Shoreview, Minnesota, is a provider of integrated business and financial technology solutions. Originally established as a check printing company, Deluxe has evolved its offerings to support small businesses, financial institutions and entrepreneurs with a comprehensive suite of services spanning print, digital and software platforms.

The company's core business activities include printing checks, forms and promotional materials, as well as delivering digital marketing and customer engagement solutions.

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