Compound Planning Inc. Has $3.78 Million Stake in The Bank of New York Mellon Corporation $BK

Key Points

• Compound Planning Inc. increased its stake in The Bank of New York Mellon by 382.0% in the 1st quarter, bringing its holdings to $3.78 million with a total of 45,123 shares.
• Several brokerages have raised their price targets for Bank of New York Mellon, with Morgan Stanley setting a target of $101.00 and Truist Financial at $109.00.
• The bank recently declared a quarterly dividend of $0.53, up from the previous $0.47, representing an annual yield of 2.1%.

Compound Planning Inc. grew its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 382.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,123 shares of the bank's stock after buying an additional 35,761 shares during the quarter. Compound Planning Inc.'s holdings in Bank of New York Mellon were worth $3,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Bank of New York Mellon in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management acquired a new stake in Bank of New York Mellon in the 1st quarter worth approximately $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth approximately $28,000. Finally, REAP Financial Group LLC increased its position in Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after buying an additional 218 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the sale, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BK. Wells Fargo & Company lifted their price target on 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. Morgan Stanley lifted their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial lifted their price target 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. Evercore ISI lifted their price target on 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, Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.08.

Bank of New York Mellon Stock Performance

BK opened at $101.7220 on Friday. The stock has a market cap of $71.74 billion, a PE ratio of 15.53, a P/E/G ratio of 0.96 and a beta of 1.12. 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 $65.24 and a 1 year high of $104.47. The stock's 50 day simple moving average is $96.69 and its 200-day simple moving average is $88.50.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. The business had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.Bank of New York Mellon's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.51 earnings per share. Sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. Bank of New York Mellon's dividend payout ratio (DPR) is currently 32.37%.

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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