Qtron Investments LLC Reduces Stake in The Bank of New York Mellon Corporation $BK

Key Points

• Qtron Investments LLC has reduced its stake in The Bank of New York Mellon Corporation by 37.6%, now holding approximately 10,635 shares valued at $892,000.
• Several institutional investors have made significant changes to their positions, including Nuveen LLC, which purchased new shares valued at $773,627,000.
• The Bank of New York Mellon has increased its quarterly dividend to $0.53 per share, up from $0.47, representing an annualized yield of 2.1%.

Qtron Investments LLC trimmed its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 37.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,635 shares of the bank's stock after selling 6,412 shares during the quarter. Qtron Investments LLC's holdings in Bank of New York Mellon were worth $892,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon during the 1st quarter worth $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon during the 1st quarter worth $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth about $28,000. Finally, REAP Financial Group LLC lifted its holdings in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after buying an additional 218 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK traded up $0.7660 on Friday, hitting $102.5460. 3,471,633 shares of the company traded hands, compared to its average volume of 3,302,293. The company has a 50 day moving average of $96.97 and a 200-day moving average of $88.62. 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 stock has a market capitalization of $72.32 billion, a PE ratio of 15.66, a PEG ratio of 0.96 and a beta of 1.12. The Bank of New York Mellon Corporation has a 12-month low of $65.50 and a 12-month high of $104.47.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business earned $1.51 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.1%. 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 presently 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 business's 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 transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BK shares. Keefe, Bruyette & Woods lifted their price target on 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. Morgan Stanley boosted their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted 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 report on Wednesday, July 16th. Truist Financial boosted their target price 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. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average price target of $95.08.

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.