Wealthfront Advisers LLC Has $6.86 Million Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Wealthfront Advisers LLC grew its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,799 shares of the bank's stock after purchasing an additional 5,887 shares during the period. Wealthfront Advisers LLC's holdings in Bank of New York Mellon were worth $6,860,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon in the 1st quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon in the 1st quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $28,000. Finally, REAP Financial Group LLC increased its stake in Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after buying an additional 218 shares during the period. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

BK traded up $0.89 during midday trading on Friday, hitting $98.81. The company had a trading volume of 5,658,224 shares, compared to its average volume of 4,131,179. 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 company has a market capitalization of $70.69 billion, a PE ratio of 15.09, a P/E/G ratio of 0.96 and a beta of 1.07. The Bank of New York Mellon Corporation has a twelve month low of $60.93 and a twelve month high of $99.04. The firm's 50-day simple moving average is $90.84 and its 200-day simple moving average is $85.22.

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 company had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter in the previous year, the company earned $1.51 EPS. Bank of New York Mellon's revenue was up 9.4% on a year-over-year basis. Equities research analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Friday, July 25th will be paid a $0.53 dividend. The ex-dividend date is Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.15%. 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%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BK shares. Citigroup increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods upped 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 report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average target price of $94.38.

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.