Gries Financial LLC Has $1.48 Million Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Gries Financial LLC reduced its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,616 shares of the bank's stock after selling 3,331 shares during the quarter. Gries Financial LLC's holdings in Bank of New York Mellon were worth $1,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon during the first quarter valued at $25,000. Alpine Bank Wealth Management bought a new position in shares of Bank of New York Mellon during the first quarter valued at $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $28,000. Finally, REAP Financial Group LLC lifted 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 valued at $30,000 after acquiring an additional 218 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 1.2%

Bank of New York Mellon stock traded up $1.18 during trading hours on Thursday, hitting $100.81. The stock had a trading volume of 1,360,234 shares, compared to its average volume of 4,313,986. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The stock has a market cap of $72.12 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.97 and a beta of 1.07. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $101.03. The business's 50 day simple moving average is $91.53 and its 200-day simple moving average is $85.68.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the company earned $1.51 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Friday, July 25th will be issued a $0.53 dividend. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, July 25th. Bank of New York Mellon's payout ratio is presently 28.70%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president directly owned 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BK shares. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Truist Financial lifted their price target on Bank of New York Mellon from $97.00 to $100.00 and gave the company a "hold" rating in a 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 company an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI lifted their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a 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 company an "outperform" rating in a report on Wednesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus target price of $94.38.

About Bank of New York Mellon

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.