The Bank of New York Mellon Corporation $BK is LFL Advisers LLC's Largest Position

Key Points

• LFL Advisers LLC reduced its stake in The Bank of New York Mellon Corporation by 2.6%, holding 424,631 shares after selling 11,209 shares, making it their largest holding.
• The company's recent quarterly earnings reported an EPS of $1.94, surpassing estimates and reflecting a 9.4% increase in revenue year-over-year.
• Bank of New York Mellon announced a quarterly dividend increase to $0.53 per share, marking a positive change from the previous $0.47 dividend.

LFL Advisers LLC lessened its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 424,631 shares of the bank's stock after selling 11,209 shares during the quarter. Bank of New York Mellon makes up approximately 15.6% of LFL Advisers LLC's portfolio, making the stock its biggest holding. LFL Advisers LLC owned 0.06% of Bank of New York Mellon worth $35,614,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth approximately $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $28,000. Finally, REAP Financial Group LLC raised its holdings in shares of 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 worth $30,000 after purchasing an additional 218 shares during the period. Institutional investors own 85.31% of the company's stock.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their position. 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 Analysts Forecast Growth

A number of equities research analysts recently commented on BK shares. Evercore ISI lifted their price target 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. Wells Fargo & Company lifted their price target 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, July 16th. Morgan Stanley boosted their target price 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 target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Truist Financial boosted their target price on shares of 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. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.08.

Bank of New York Mellon Price Performance

Shares of BK traded up $0.12 during mid-day trading on Wednesday, reaching $101.20. 1,847,098 shares of the stock traded hands, compared to its average volume of 4,210,452. The firm has a fifty day moving average price of $96.22 and a 200 day moving average price of $88.30. The company has a market cap of $71.37 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 0.98 and a beta of 1.12. The company has a current ratio of 0.72, a quick 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 $65.01 and a 1 year high of $104.47.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 EPS. As a group, equities 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 was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a dividend of $0.53 per share. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.37%.

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.