The Bank of New York Mellon Corporation $BK Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in The Bank of New York Mellon by 6.9% during the second quarter, holding approximately $78.8 million worth of shares after acquiring additional stocks.
• Bank of New York Mellon reported earnings of $1.94 per share for the last quarter, exceeding estimates, and announced an increase in its quarterly dividend from $0.47 to $0.53 per share, resulting in a 2.0% dividend yield.
• Institutional investors own 85.31% of Bank of New York Mellon's stock, with significant increases noted from various major funds, indicating strong market confidence.

Swedbank AB increased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 865,221 shares of the bank's stock after acquiring an additional 55,648 shares during the period. Swedbank AB owned about 0.12% of Bank of New York Mellon worth $78,830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Bank of New York Mellon during the 1st quarter worth approximately $773,627,000. GAMMA Investing LLC grew its position in 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 valued at $117,414,000 after buying an additional 1,385,434 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Bank of New York Mellon during the first quarter valued at $92,502,000. Goldman Sachs Group Inc. grew its position in shares of Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock valued at $423,858,000 after acquiring an additional 1,052,145 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Bank of New York Mellon by 257.6% during the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank's stock valued at $103,685,000 after acquiring an additional 890,593 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

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 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Up 0.1%

Shares of NYSE BK traded up $0.10 during mid-day trading on Friday, hitting $108.62. The company had a trading volume of 8,770,370 shares, compared to its average volume of 2,747,152. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $76.60 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. The business's 50-day simple moving average is $102.54 and its 200 day simple moving average is $91.17. The Bank of New York Mellon Corporation has a 1-year low of $70.41 and a 1-year high of $109.21.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results 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. The firm had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.51 earnings per share. On average, analysts predict 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 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 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. Bank of New York Mellon's dividend payout ratio is 32.37%.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial raised their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company a "hold" rating in a report on Thursday, August 14th. Citigroup lifted their target price 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. Evercore ISI lifted their price objective on 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. Morgan Stanley lifted 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 note on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently 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.