2,819 Shares in The Bank of New York Mellon Corporation $BK Acquired by Plancorp LLC

Plancorp LLC bought a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,819 shares of the bank's stock, valued at approximately $236,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in Bank of New York Mellon by 1.9% in the first quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank's stock worth $1,010,093,000 after acquiring an additional 221,613 shares during the period. Nuveen LLC purchased a new stake in Bank of New York Mellon in the first quarter worth about $773,627,000. Invesco Ltd. lifted its stake in Bank of New York Mellon by 8.8% in the first quarter. Invesco Ltd. now owns 8,264,176 shares of the bank's stock worth $693,116,000 after acquiring an additional 667,966 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bank of New York Mellon by 15.9% in 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 acquiring an additional 1,055,389 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock worth $423,858,000 after acquiring an additional 1,052,145 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Up 0.8%

Shares of BK traded up $0.86 during mid-day 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 1-year low of $68.51 and a 1-year high of $106.57. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $75.08 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14. The business has a 50 day moving average of $101.15 and a 200 day moving average of $90.51.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. Bank of New York Mellon's dividend payout ratio is currently 32.37%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BK. Evercore ISI upped 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. Citigroup upped their price objective on shares of 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. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price target 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 report on Wednesday, July 16th. Finally, Truist Financial increased their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon presently 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.