Gould Capital LLC Has $199,000 Stake in The Bank of New York Mellon Corporation $BK

Key Points

• Gould Capital LLC significantly reduced its stake in The Bank of New York Mellon Corporation by 94%, now holding shares worth approximately $199,000 after selling 36,879 shares.
• Bank of New York Mellon has raised its quarterly dividend from $0.47 to $0.53 per share, reflecting a commitment to returning value to shareholders with an annual yield of 2.1%.
• Wall Street analysts are optimistic, with multiple firms raising their target prices and a consensus rating of "Moderate Buy" based on recent performance and earnings, including a reported $1.94 EPS beating estimates.

Gould Capital LLC lowered its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 94.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,374 shares of the bank's stock after selling 36,879 shares during the period. Gould Capital LLC's holdings in Bank of New York Mellon were worth $199,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $25,000. Bellwether Advisors LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $28,000. Finally, REAP Financial Group LLC boosted its stake in shares of 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 last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Truist Financial boosted their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Evercore ISI upped their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company upped their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.08.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction on 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 sale, the executive vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 0.5%

NYSE:BK opened at $101.7220 on Friday. The company has a market cap of $71.74 billion, a P/E ratio of 15.53, a P/E/G ratio of 0.96 and a beta of 1.12. The stock's fifty day moving average price is $96.69 and its two-hundred day moving average price is $88.50. The Bank of New York Mellon Corporation has a 1 year low of $65.24 and a 1 year high of $104.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.21. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 earnings per share. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a dividend of $0.53 per share. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a dividend yield of 2.1%. 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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