11,886 Shares in The Bank of New York Mellon Corporation $BK Bought by Integrity Alliance LLC.

Key Points

• Integrity Alliance LLC recently made a new investment of approximately $997,000 in The Bank of New York Mellon Corporation, acquiring 11,886 shares during the first quarter.
• Wall Street analysts have raised their price targets for the bank, with Keefe, Bruyette & Woods increasing theirs from $105.00 to $113.00, resulting in an "outperform" rating.
• The Bank of New York Mellon has announced a quarterly dividend of $0.53 per share, marking a positive increase from the previous $0.47, with a current yield of 2.0%.

Integrity Alliance LLC. bought a new position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,886 shares of the bank's stock, valued at approximately $997,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon during the first quarter worth about $25,000. REAP Financial Group LLC raised its position in 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 in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Bank of New York Mellon by 100.0% in 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 shares of Bank of New York Mellon during the 1st quarter valued at about $32,000. 85.31% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 35,115 shares of the company's stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Down 0.8%

BK traded down $0.86 during midday trading on Tuesday, hitting $105.56. 1,161,681 shares of the company's stock traded hands, compared to its average volume of 4,071,433. 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 company has a market cap of $74.44 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14. The stock's fifty day simple moving average is $101.41 and its 200-day simple moving average is $90.66. The Bank of New York Mellon Corporation has a one year low of $70.25 and a one year high of $107.01.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS 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 company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business posted $1.51 EPS. Bank of New York Mellon's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given 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 dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, July 25th. Bank of New York Mellon's payout ratio is presently 32.37%.

Wall Street Analyst Weigh In

BK has been the topic of several recent research reports. Evercore ISI lifted 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 note on Wednesday, July 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial upped their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the company a "hold" rating in a report on Thursday, August 14th. Citigroup raised their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Finally, Morgan Stanley lifted their target price on 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. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.