The Bank of New York Mellon Corporation $BK Shares Bought by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its stake in The Bank of New York Mellon Corporation by 210.2% during Q2, owning 14,151 shares valued at $1,289,000.
• Bank of New York Mellon reported earnings of $1.94 per share, surpassing estimates of $1.73, along with quarterly revenue of $4.77 billion which grew by 9.4% year-over-year.
• The bank recently declared a quarterly dividend of $0.53, marking an increase from the previous dividend of $0.47, with a current yield of 2.0%.

Simplicity Wealth LLC lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 210.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,151 shares of the bank's stock after purchasing an additional 9,589 shares during the quarter. Simplicity Wealth LLC's holdings in Bank of New York Mellon were worth $1,289,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Leonard Rickey Investment Advisors P.L.L.C. increased its holdings in Bank of New York Mellon by 2.2% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank's stock valued at $464,000 after buying an additional 112 shares in the last quarter. Sax Wealth Advisors LLC increased its stake in shares of Bank of New York Mellon by 2.3% in the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank's stock valued at $443,000 after purchasing an additional 117 shares in the last quarter. Hemington Wealth Management raised its holdings in Bank of New York Mellon by 8.0% in the 1st quarter. Hemington Wealth Management now owns 1,628 shares of the bank's stock worth $136,000 after purchasing an additional 121 shares during the period. Y.D. More Investments Ltd boosted its position in Bank of New York Mellon by 13.8% during the first quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank's stock worth $86,000 after purchasing an additional 125 shares in the last quarter. Finally, Resources Management Corp CT ADV grew its holdings in Bank of New York Mellon by 5.9% in the first quarter. Resources Management Corp CT ADV now owns 2,260 shares of the bank's stock valued at $190,000 after purchasing an additional 125 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $106.46 on Tuesday. The company has a fifty day simple moving average of $104.71 and a 200-day simple moving average of $93.21. The firm has a market capitalization of $75.08 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.01 and a beta of 1.13. 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 Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the business posted $1.51 earnings per share. Bank of New York Mellon's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost 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 (DPR) is currently 32.37%.

Insider Transactions 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 on 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. TD Cowen initiated coverage on Bank of New York Mellon in a research note on Thursday, September 25th. They set a "buy" rating for the company. The Goldman Sachs Group upped their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company increased 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 report on Wednesday, July 16th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday. They set an "outperform" rating and a $125.00 target price for the company. Finally, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Bank of New York Mellon in a research note on Saturday, September 27th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.77.

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.

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