Vontobel Holding Ltd. Purchases 89,397 Shares of The Bank of New York Mellon Corporation $BK

Vontobel Holding Ltd. raised its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 184.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,883 shares of the bank's stock after purchasing an additional 89,397 shares during the quarter. Vontobel Holding Ltd.'s holdings in Bank of New York Mellon were worth $12,563,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BK. Maryland State Retirement & Pension System raised its position in shares of Bank of New York Mellon by 3.4% during the second quarter. Maryland State Retirement & Pension System now owns 34,792 shares of the bank's stock worth $3,170,000 after acquiring an additional 1,142 shares during the last quarter. Ignite Planners LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth about $240,000. WoodTrust Financial Corp raised its position in shares of Bank of New York Mellon by 105.0% during the second quarter. WoodTrust Financial Corp now owns 5,335 shares of the bank's stock worth $486,000 after acquiring an additional 2,733 shares during the last quarter. Secured Retirement Advisors LLC raised its position in shares of Bank of New York Mellon by 2.4% during the second quarter. Secured Retirement Advisors LLC now owns 16,987 shares of the bank's stock worth $1,548,000 after acquiring an additional 397 shares during the last quarter. Finally, Abel Hall LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth about $206,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BK shares. Wells Fargo & Company raised 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 research report on Wednesday, July 16th. BMO Capital Markets initiated coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They set an "outperform" rating and a $125.00 target price for the company. TD Cowen initiated coverage on Bank of New York Mellon in a research note on Thursday, September 25th. They set a "buy" rating for the company. Keefe, Bruyette & Woods raised their target price on 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. Finally, Morgan Stanley raised their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $106.77.

Bank of New York Mellon Trading Up 0.8%

NYSE BK opened at $106.83 on Friday. The company has a market cap of $75.34 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 0.99 and a beta of 1.13. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87. The business has a 50 day moving average price of $105.00 and a 200-day moving average price of $93.55. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, equities analysts expect 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 announced a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. 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 2.0%. Bank of New York Mellon's payout ratio is presently 32.37%.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.

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