Graypoint LLC Has $923,000 Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Graypoint LLC lifted its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 54.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,009 shares of the bank's stock after buying an additional 3,869 shares during the period. Graypoint LLC's holdings in Bank of New York Mellon were worth $923,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BK. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon in the first quarter worth $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $28,000. Finally, REAP Financial Group LLC increased its stake in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after acquiring an additional 218 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.9%

NYSE:BK traded up $0.89 on Friday, reaching $98.81. The stock had a trading volume of 5,658,224 shares, compared to its average volume of 4,131,179. The company has a market cap of $70.69 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 0.96 and a beta of 1.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.69. The firm's fifty day moving average is $90.84 and its two-hundred day moving average is $85.22. The Bank of New York Mellon Corporation has a 12-month low of $60.93 and a 12-month high of $99.04.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $4.80 billion. During the same period in the prior year, the firm posted $1.51 EPS. The company's revenue was up 9.4% on a year-over-year basis. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Friday, July 25th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, July 25th. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 2.15%. Bank of New York Mellon's payout ratio is 32.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of 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. Citigroup raised their price objective 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. Finally, Evercore ISI raised their price objective on shares of 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.38.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business'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 sale, the executive vice president owned 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

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.