The Bank of New York Mellon Corporation $BK Shares Sold by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. reduced its holdings in The Bank of New York Mellon by 42.5%, selling 3,125 shares and ending up with 4,225 shares valued at $354,000.
• Several institutional investors made significant changes to their positions, with Wellington Management increasing its stake by 257.6%, acquiring an additional 890,593 shares during the same period.
• The Bank of New York Mellon announced a quarterly dividend increase from $0.47 to $0.53 per share, representing a dividend yield of 2.1% and a payout ratio of 32.37%.

Fuller & Thaler Asset Management Inc. lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 42.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,225 shares of the bank's stock after selling 3,125 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in Bank of New York Mellon were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Bank of New York Mellon by 257.6% in the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank's stock valued at $103,685,000 after buying an additional 890,593 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 3.4% in the 1st quarter. Aptus Capital Advisors LLC now owns 8,542 shares of the bank's stock valued at $716,000 after buying an additional 280 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Bank of New York Mellon by 25.2% in the 1st quarter. Brooklyn Investment Group now owns 4,782 shares of the bank's stock valued at $401,000 after buying an additional 961 shares during the period. FCG Investment Co acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $1,378,000. Finally, Affinity Investment Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 9.0% in the 1st quarter. Affinity Investment Advisors LLC now owns 12,223 shares of the bank's stock valued at $1,025,000 after buying an additional 1,012 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. 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 owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on BK. Wells Fargo & Company boosted their price objective on 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. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Truist Financial boosted 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. Evercore ISI lifted their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley lifted their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average price target of $95.08.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $101.7220 on Friday. 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 twelve month low of $65.24 and a twelve month high of $104.47. The business has a 50-day moving average price of $96.69 and a 200 day moving average price of $88.50. The firm has a market cap of $71.74 billion, a PE ratio of 15.53, a P/E/G ratio of 0.96 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its 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. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The business had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of New York Mellon's payout ratio is currently 32.37%.

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.

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