The Bank of New York Mellon Corporation $BK Shares Sold by Intrinsic Value Partners LLC

Intrinsic Value Partners LLC lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 12.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 32,489 shares of the bank's stock after selling 4,445 shares during the period. Bank of New York Mellon comprises about 2.6% of Intrinsic Value Partners LLC's portfolio, making the stock its 12th largest holding. Intrinsic Value Partners LLC's holdings in Bank of New York Mellon were worth $2,960,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Canada Post Corp Registered Pension Plan acquired a new stake in Bank of New York Mellon during the 1st quarter valued at $1,035,000. TrueMark Investments LLC acquired a new stake in Bank of New York Mellon during the 1st quarter valued at $4,282,000. Wealth Enhancement Advisory Services LLC raised its stake in Bank of New York Mellon by 29.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank's stock valued at $18,740,000 after purchasing an additional 50,368 shares during the period. Formidable Asset Management LLC acquired a new stake in Bank of New York Mellon during the 1st quarter valued at $247,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Bank of New York Mellon by 121.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank's stock valued at $15,399,000 after purchasing an additional 100,810 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Trading Up 0.1%

Shares of NYSE:BK opened at $106.48 on Friday. The stock has a market capitalization of $75.09 billion, a PE ratio of 16.26, a P/E/G ratio of 1.00 and a beta of 1.13. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The firm has a fifty day moving average price of $104.60 and a 200 day moving average price of $92.93. 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 data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion during 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%. Bank of New York Mellon's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. Analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. This is a boost 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 yield of 2.0%. The ex-dividend date was Friday, July 25th. Bank of New York Mellon's dividend payout ratio 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 company's stock in a transaction dated 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 completion of the sale, the executive vice president directly 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 at the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BK has been the topic of several recent analyst reports. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an "in-line" rating in a research note on Tuesday. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. TD Cowen began coverage on shares of Bank of New York Mellon in a research note on Thursday, September 25th. They set a "buy" rating on the stock. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a report on Friday. They set an "outperform" rating and a $125.00 price target on the stock. Finally, Truist Financial boosted their price target on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the company a "hold" rating in a report on Thursday. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.46.

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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