Capital Fund Management S.A. Raises Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• Capital Fund Management S.A. increased its stake in The Bank of New York Mellon Corporation by 128.1%, acquiring an additional 157,875 shares, bringing its total holdings to 281,137 shares valued at approximately $23.58 million.
• Wall Street analysts have raised price targets for Bank of New York Mellon, with estimates now ranging from $90.00 to $113.00, reflecting a consensus rating of "Moderate Buy."
• The Bank of New York Mellon recently increased its quarterly dividend to $0.53 per share, up from $0.47, indicating a strong financial position with a payout ratio of 32.37%.

Capital Fund Management S.A. grew its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 128.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,137 shares of the bank's stock after buying an additional 157,875 shares during the quarter. Capital Fund Management S.A.'s holdings in Bank of New York Mellon were worth $23,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Bank of New York Mellon by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after buying an additional 35,413 shares during the period. Northern Trust Corp raised its holdings in Bank of New York Mellon by 19.1% in the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock worth $732,468,000 after purchasing an additional 1,526,686 shares during the period. Nuveen LLC bought a new position in Bank of New York Mellon in the 1st quarter worth $773,627,000. Invesco Ltd. raised its holdings in Bank of New York Mellon by 8.8% in the 1st quarter. Invesco Ltd. now owns 8,264,176 shares of the bank's stock worth $693,116,000 after purchasing an additional 667,966 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Bank of New York Mellon by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank's stock worth $590,783,000 after purchasing an additional 1,055,389 shares during the period. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BK. Evercore ISI raised their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Morgan Stanley raised their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Truist Financial raised their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Keefe, Bruyette & Woods raised their target price 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. Finally, Wells Fargo & Company raised their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the stock 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.08.

Bank of New York Mellon Price Performance

BK stock traded up $0.7660 during trading on Friday, reaching $102.5460. The company's stock had a trading volume of 3,471,633 shares, compared to its average volume of 3,302,293. The Bank of New York Mellon Corporation has a 1 year low of $65.50 and a 1 year high of $104.47. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $72.32 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.12. The company's fifty day moving average is $96.97 and its 200-day moving average is $88.64.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business posted $1.51 EPS. Bank of New York Mellon's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, 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 company also recently disclosed 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 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 2.1%. Bank of New York Mellon's dividend payout ratio (DPR) is 32.37%.

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 dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

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.