The Bank of New York Mellon Corporation (NYSE:BK) Shares Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 213.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,735 shares of the bank's stock after purchasing an additional 10,709 shares during the period. J.W. Cole Advisors Inc.'s holdings in Bank of New York Mellon were worth $1,320,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BK. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon during the 1st quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in Bank of New York Mellon during the first quarter worth approximately $25,000. Parvin Asset Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $25,000. Bellwether Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $28,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock worth $30,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 0.4%

Shares of BK stock traded up $0.43 during mid-day trading on Thursday, reaching $100.06. 4,243,976 shares of the company were exchanged, compared to its average volume of 4,597,297. The company has a market capitalization of $71.59 billion, a P/E ratio of 15.28, a P/E/G ratio of 0.97 and a beta of 1.07. The business's 50 day simple moving average is $91.74 and its 200 day simple moving average is $85.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72. The Bank of New York Mellon Corporation has a fifty-two week low of $60.93 and a fifty-two week high of $101.03.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter last year, the company posted $1.51 earnings per share. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be given a dividend of $0.53 per share. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, July 25th. Bank of New York Mellon's dividend payout ratio is currently 28.70%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president owned 55,115 shares in the company, valued at $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Morgan Stanley raised their price target on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Truist Financial lifted their target price on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Finally, Evercore ISI increased 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 report on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.38.

About Bank of New York Mellon

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.