Kingsview Wealth Management LLC Buys 4,010 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Kingsview Wealth Management LLC grew its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 30.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,201 shares of the bank's stock after purchasing an additional 4,010 shares during the quarter. Kingsview Wealth Management LLC's holdings in Bank of New York Mellon were worth $1,443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bailard Inc. lifted its position in Bank of New York Mellon by 28.2% in the 1st quarter. Bailard Inc. now owns 29,341 shares of the bank's stock valued at $2,461,000 after purchasing an additional 6,460 shares during the last quarter. Woodward Diversified Capital LLC increased its stake in shares of Bank of New York Mellon by 5.9% in the first quarter. Woodward Diversified Capital LLC now owns 4,860 shares of the bank's stock valued at $408,000 after purchasing an additional 269 shares during the period. Graypoint LLC increased its stake in shares of Bank of New York Mellon by 54.2% in the first quarter. Graypoint LLC now owns 11,009 shares of the bank's stock valued at $923,000 after purchasing an additional 3,869 shares during the period. Burns Matteson Capital Management LLC raised its holdings in shares of Bank of New York Mellon by 30.5% during the first quarter. Burns Matteson Capital Management LLC now owns 4,166 shares of the bank's stock valued at $349,000 after buying an additional 973 shares during the last quarter. Finally, Napatree Capital LLC boosted its position in shares of Bank of New York Mellon by 6.2% during the first quarter. Napatree Capital LLC now owns 2,885 shares of the bank's stock worth $242,000 after buying an additional 169 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BK. Morgan Stanley raised their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods raised 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. Wells Fargo & Company lifted their price objective on shares of 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. Truist Financial increased their target price on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Finally, Evercore ISI raised their target price on shares of 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $94.38.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the sale, 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 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 owned by company insiders.

Bank of New York Mellon Stock Up 0.4%

Shares of BK stock traded up $0.43 on Thursday, reaching $100.06. 4,243,976 shares of the company's stock traded hands, compared to its average volume of 4,597,297. The company has a market capitalization of $71.59 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 0.97 and a beta of 1.07. The Bank of New York Mellon Corporation has a 12-month low of $60.93 and a 12-month high of $101.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72. The business's 50 day moving average price is $91.74 and its two-hundred day moving average price is $85.83.

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 for the quarter, beating 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 firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm earned $1.51 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.12%. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date is Friday, July 25th. Bank of New York Mellon's payout ratio is currently 28.70%.

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.