International Assets Investment Management LLC Buys Shares of 22,454 The Bank of New York Mellon Corporation $BK

Key Points

• International Assets Investment Management LLC purchased 22,454 shares of The Bank of New York Mellon Corporation, valued at approximately $2,046,000, indicating growing institutional interest in the company.
• The bank is set to pay a quarterly dividend of $0.53 per share on November 7th, with a dividend yield of 2.0%.
• Analysts have shown positive sentiment towards the stock, with ten ratings of "Buy" and an average price target of $109.62, reflecting confidence in the company’s growth potential.

International Assets Investment Management LLC purchased a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,454 shares of the bank's stock, valued at approximately $2,046,000.

Other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC boosted its holdings in shares of 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 buying an additional 196 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at about $32,000. Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $32,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Bank of New York Mellon by 226.4% in the 1st quarter. Golden State Wealth Management LLC now owns 408 shares of the bank's stock valued at $34,000 after buying an additional 283 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

BK opened at $105.77 on Monday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $74.59 billion, a PE ratio of 15.26, a P/E/G ratio of 0.98 and a beta of 1.13. The firm has a 50 day moving average of $105.59 and a two-hundred day moving average of $94.64.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The company had revenue of $4.38 billion during the quarter. On average, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon's payout ratio is 30.59%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of Bank of New York Mellon in a report on Thursday, September 25th. They issued a "buy" rating on the stock. BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They issued an "outperform" rating and a $125.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Citigroup increased their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $109.62.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares of the company's stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

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.

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