3,771 Shares in The Bank of New York Mellon Corporation $BK Purchased by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC invested approximately $316,000 in The Bank of New York Mellon, acquiring 3,771 shares in the first quarter.
• Several institutional investors have increased their stakes, with 85.31% of the stock now owned by such investors.
• The Bank of New York Mellon recently increased its quarterly dividend to $0.53 per share, reflecting a yield of 2.0% and a payout ratio of 32.37%.

MBB Public Markets I LLC bought a new position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 3,771 shares of the bank's stock, valued at approximately $316,000.

A number of other large investors also recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth $220,000. Focus Partners Wealth raised its position in Bank of New York Mellon by 38.3% in the 4th quarter. Focus Partners Wealth now owns 33,349 shares of the bank's stock worth $2,600,000 after purchasing an additional 9,231 shares during the period. Gotham Asset Management LLC raised its position in Bank of New York Mellon by 1.3% in the 4th quarter. Gotham Asset Management LLC now owns 28,702 shares of the bank's stock worth $2,205,000 after purchasing an additional 369 shares during the period. Janus Henderson Group PLC raised its position in Bank of New York Mellon by 21.7% in the 4th quarter. Janus Henderson Group PLC now owns 124,273 shares of the bank's stock worth $9,552,000 after purchasing an additional 22,179 shares during the period. Finally, Logan Capital Management Inc. raised its position in Bank of New York Mellon by 4.4% in the 4th quarter. Logan Capital Management Inc. now owns 27,882 shares of the bank's stock worth $2,142,000 after purchasing an additional 1,176 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Trading Up 0.8%

Shares of NYSE BK traded up $0.86 during midday trading on Friday, hitting $106.46. 2,609,349 shares of the company traded hands, compared to its average volume of 2,833,322. The Bank of New York Mellon Corporation has a 12-month low of $68.51 and a 12-month high of $106.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50-day moving average price of $101.15 and a 200 day moving average price of $90.49. The firm has a market cap of $75.08 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.00 and a beta of 1.14.

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 earnings per share (EPS) 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 company had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. Bank of New York Mellon's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon's payout ratio is presently 32.37%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BK. Keefe, Bruyette & Woods lifted their target price 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. Citigroup raised their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. Morgan Stanley raised their price target on shares of 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. Truist Financial raised their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.62.

Bank of New York Mellon Company 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.