The Bank of New York Mellon Corporation $BK Stock Position Boosted by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC increased its holdings in The Bank of New York Mellon Corporation by 106.7%, acquiring an additional 3,953 shares during the first quarter, bringing its total to 7,659 shares valued at $642,000.
• The Bank of New York Mellon recently declared a dividend of $0.53 per share, up from the previous $0.47, representing a dividend yield of 2.0% and an annualized payout of $2.12.
• The bank reported earnings of $1.94 per share for the latest quarter, surpassing estimates and marking a yearly revenue increase of 9.4%.

Focus Partners Advisor Solutions LLC raised its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 106.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,659 shares of the bank's stock after acquiring an additional 3,953 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Bank of New York Mellon were worth $642,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Bank of New York Mellon during the 1st quarter valued at $25,000. Alpine Bank Wealth Management bought a new position in Bank of New York Mellon during the 1st quarter valued at $25,000. REAP Financial Group LLC boosted its stake in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Bank of New York Mellon by 100.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock valued at $30,000 after acquiring an additional 196 shares during the last quarter. Finally, Orion Capital Management LLC bought a new position in Bank of New York Mellon during the 1st quarter valued at $32,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK stock traded down $1.87 during trading hours on Friday, reaching $103.69. The stock had a trading volume of 2,780,488 shares, compared to its average volume of 2,824,427. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The Bank of New York Mellon Corporation has a twelve month low of $66.01 and a twelve month high of $106.57. The firm has a 50-day simple moving average of $99.81 and a 200-day simple moving average of $89.89. The firm has a market capitalization of $73.12 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14.

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, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter last year, the company earned $1.51 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon's dividend payout ratio is 32.37%.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the sale, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BK shares. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their target price on shares of 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. Morgan Stanley increased their target price on shares of 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. Citigroup increased their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Evercore ISI increased their target price on shares of 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. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.62.

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.