The Bank of New York Mellon Corporation $BK Shares Purchased by Callan Family Office LLC

Callan Family Office LLC lifted its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 226.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 118,428 shares of the bank's stock after acquiring an additional 82,132 shares during the quarter. Callan Family Office LLC's holdings in Bank of New York Mellon were worth $10,790,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Bank of New York Mellon during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon in the 1st quarter valued at $25,000. Cornerstone Planning Group LLC grew its position in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock valued at $30,000 after buying an additional 196 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Bank of New York Mellon in the 1st quarter valued at $32,000. Finally, Hoey Investments Inc. acquired a new position in Bank of New York Mellon in the second quarter valued at $32,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent research reports. Wells Fargo & Company lifted 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 research note on Wednesday, July 16th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the stock a "hold" rating in a report on Thursday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Weiss Ratings restated a "buy (b+)" rating on shares of Bank of New York Mellon in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their target price 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. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.77.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $106.83 on Friday. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87. The firm has a fifty day moving average of $105.00 and a 200-day moving average of $93.55. The firm has a market capitalization of $75.34 billion, a P/E ratio of 16.31, a PEG ratio of 0.99 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.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced 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 business 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 net margin of 12.27% and a return on equity of 13.46%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.51 earnings per share. As a group, analysts predict 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 firm 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%. The ex-dividend date was Friday, July 25th. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's payout ratio is 32.37%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were 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 in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

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.

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