Dynamic Advisor Solutions LLC Makes New Investment in The Bank of New York Mellon Corporation (NYSE:BK)

Dynamic Advisor Solutions LLC bought a new position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 21,041 shares of the bank's stock, valued at approximately $1,765,000.

Other hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $25,000. Bellwether Advisors LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $28,000. REAP Financial Group LLC grew its holdings in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after purchasing an additional 218 shares in the last quarter. Finally, Transce3nd LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president now directly owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,114 shares of company stock worth $7,869,795. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Trading Up 0.1%

Shares of NYSE:BK traded up $0.06 during trading on Friday, reaching $91.66. 2,968,173 shares of the company traded hands, compared to its average volume of 4,079,457. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 52-week low of $58.19 and a 52-week high of $92.64. The firm has a market capitalization of $65.58 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.02 and a beta of 1.08. The business's fifty day moving average is $85.23 and its 200-day moving average is $83.17.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The firm's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. As a group, analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.05%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Citigroup upped their target price on shares of 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. Evercore ISI raised their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $91.85.

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.