2,501 Shares in The Bank of New York Mellon Corporation (NYSE:BK) Bought by NBW Capital LLC

Key Points

• NBW Capital LLC acquired a new position in The Bank of New York Mellon Corporation, purchasing 2,501 shares valued at approximately $210,000 in the first quarter.
• Insider trading revealed that EVP J Kevin Mccarthy sold 20,000 shares at an average price of $98.45, reducing their ownership by 36.29%.
• Equities analysts have raised their price targets for Bank of New York Mellon, with Morgan Stanley updating theirs from $95.00 to $101.00 and Keefe, Bruyette & Woods from $105.00 to $113.00.

NBW Capital LLC acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,501 shares of the bank's stock, valued at approximately $210,000.

Several other large investors also recently made changes to their positions in the stock. Northern Trust Corp lifted its holdings in Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after purchasing an additional 1,526,686 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bank of New York Mellon by 9,538.9% during the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock worth $117,414,000 after buying an additional 1,385,434 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Bank of New York Mellon during the first quarter worth $92,502,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Bank of New York Mellon by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank's stock worth $590,783,000 after buying an additional 1,055,389 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock worth $423,858,000 after buying an additional 1,052,145 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the transaction, the executive vice president directly owned 35,115 shares of the company's stock, valued at $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 1.0%

Shares of BK traded up $1.01 during midday trading on Friday, hitting $103.22. 3,083,288 shares of the stock were exchanged, compared to its average volume of 4,312,141. The firm has a market cap of $72.79 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.99 and a beta of 1.12. The stock has a fifty day simple moving average of $94.41 and a 200 day simple moving average of $87.51. The Bank of New York Mellon Corporation has a 52-week low of $62.83 and a 52-week high of $103.98. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72.

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, topping analysts' consensus estimates of $1.73 by $0.21. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. Bank of New York Mellon's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 EPS. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders 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 represents a $2.12 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's dividend payout ratio is currently 32.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BK shares. Morgan Stanley raised their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the stock 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 stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial raised their price target on Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Evercore ISI raised their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of "Moderate Buy" and an average price target 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.