Marietta Investment Partners LLC Buys 25,050 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Key Points

• Marietta Investment Partners LLC significantly increased its stake in The Bank of New York Mellon Corporation by 500.9% in the first quarter, now owning 30,051 shares valued at approximately $2.52 million.
• The Bank of New York Mellon recently announced a quarterly dividend increase to $0.53 per share, representing an annualized amount of $2.12 and a dividend yield of 2.10%.
• Analysts have raised their price targets for Bank of New York Mellon, with several firms adjusting their projections to as high as $113.00, indicating strong optimism about the stock's performance.

Marietta Investment Partners LLC increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 500.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,051 shares of the bank's stock after acquiring an additional 25,050 shares during the period. Marietta Investment Partners LLC's holdings in Bank of New York Mellon were worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC raised its stake in Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after acquiring an additional 119 shares during the period. Syon Capital LLC increased its position in shares of Bank of New York Mellon by 2.5% during the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after purchasing an additional 132 shares during the period. Parallel Advisors LLC increased its position in shares of Bank of New York Mellon by 1.1% in the first quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock worth $1,056,000 after acquiring an additional 139 shares in the last quarter. Quotient Wealth Partners LLC lifted its stake in Bank of New York Mellon by 4.7% in the 1st quarter. Quotient Wealth Partners LLC now owns 3,171 shares of the bank's stock worth $266,000 after acquiring an additional 141 shares in the last quarter. Finally, Valmark Advisers Inc. increased its position in Bank of New York Mellon by 1.1% in the 1st quarter. Valmark Advisers Inc. now owns 12,821 shares of the bank's stock worth $1,075,000 after purchasing an additional 142 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.0%

Shares of BK stock traded up $1.00 during mid-day trading on Wednesday, reaching $102.87. 1,011,377 shares of the stock traded hands, compared to its average volume of 4,290,404. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 1-year low of $60.93 and a 1-year high of $102.96. The stock's fifty day simple moving average is $92.41 and its two-hundred day simple moving average is $86.39. The company has a market cap of $73.60 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.80 billion. During the same period last year, the company posted $1.51 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Friday, July 25th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.06%. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, July 25th. Bank of New York Mellon's dividend payout ratio is presently 32.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BK shares. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Evercore ISI boosted their price objective on shares of 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. Morgan Stanley lifted their price objective 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 increased their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Truist Financial lifted their target price on Bank of New York Mellon from $97.00 to $100.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.38.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business'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 of the company's stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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.