Dynamic Advisor Solutions LLC Increases Stock Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• Dynamic Advisor Solutions LLC increased its holdings in The Bank of New York Mellon Corporation by 11.3%, now owning 23,419 shares valued at approximately $2.13 million.
• The Bank of New York Mellon declared a quarterly dividend of $0.53 per share, increasing from the previous $0.47, representing an annualized dividend of $2.12 and a yield of 2.0%.
• Shares of Bank of New York Mellon recently reported earnings of $1.94 per share, exceeding analyst expectations of $1.73, with year-over-year revenue growth of 9.4% to $4.77 billion.

Dynamic Advisor Solutions LLC increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,419 shares of the bank's stock after acquiring an additional 2,378 shares during the period. Dynamic Advisor Solutions LLC's holdings in Bank of New York Mellon were worth $2,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $220,000. Woodline Partners LP acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $3,355,000. Waverly Advisors LLC increased its position in shares of Bank of New York Mellon by 16.4% during the fourth quarter. Waverly Advisors LLC now owns 19,534 shares of the bank's stock worth $1,501,000 after purchasing an additional 2,746 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth about $1,712,000. Finally, Novem Group purchased a new stake in Bank of New York Mellon during the fourth quarter worth $184,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on 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. Citigroup lifted their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, September 5th. Evercore ISI upped their target price 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. Morgan Stanley increased their price target on shares of 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. Finally, Keefe, Bruyette & Woods upped 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 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's stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. 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 Bank of New York Mellon Corporation has a one year low of $70.41 and a one year high of $109.21. 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 firm has a 50-day simple moving average of $102.54 and a two-hundred day simple moving average of $91.17. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. The business 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 business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 earnings per share. On average, equities analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, July 25th. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's payout ratio is 32.37%.

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.