The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 360,999 shares of the bank's stock after selling 20,778 shares during the quarter. Bank of New York Mellon makes up approximately 1.6% of Foundry Partners LLC's investment portfolio, making the stock its 6th largest position. Foundry Partners LLC owned approximately 0.05% of Bank of New York Mellon worth $30,277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BK. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the first quarter worth $25,000. Alpine Bank Wealth Management bought a new position in shares of Bank of New York Mellon during the first quarter worth about $25,000. Bellwether Advisors LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $28,000. Finally, REAP Financial Group LLC raised 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 purchasing an additional 218 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company lifted 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. Truist Financial boosted their price target on Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Citigroup lifted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Finally, Morgan Stanley upped 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 research note on Wednesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.38.

Bank of New York Mellon Trading Up 0.2%

NYSE BK traded up $0.22 on Monday, hitting $99.06. The company's stock had a trading volume of 1,643,204 shares, compared to its average volume of 4,123,764. The company's 50-day moving average is $90.84 and its 200 day moving average is $85.34. 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 $99.56. The firm has a market cap of $70.87 billion, a PE ratio of 15.13, a PEG ratio of 0.97 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (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 firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The business's revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.14%. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date is Friday, July 25th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 28.70%.

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.