Wilmington Savings Fund Society FSB Has $1.82 Million Stock Position in The Bank of New York Mellon Corporation $BK

Key Points

• Wilmington Savings Fund Society FSB has reduced its stake in The Bank of New York Mellon Corporation by 25.1%, bringing its total shares to 19,965 worth approximately $1.82 million as of the latest reporting period.
• Several institutional investors have modified their holdings, with 85.31% of the stock now owned by institutional investors and hedge funds, reflecting ongoing interest in the company.
• Research analysts have recently increased their price targets for the stock, with estimates ranging from $105.00 to $120.00, resulting in a consensus rating of "Moderate Buy".

Wilmington Savings Fund Society FSB reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 25.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,965 shares of the bank's stock after selling 6,682 shares during the period. Wilmington Savings Fund Society FSB's holdings in Bank of New York Mellon were worth $1,819,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Bank of New York Mellon during the first quarter worth $25,000. Cornerstone Planning Group LLC increased its holdings in shares of Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock worth $30,000 after buying an additional 196 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth $32,000. Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter worth $32,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Bank of New York Mellon by 226.4% during the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank's stock worth $34,000 after buying an additional 283 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $108.94 on Thursday. The firm's 50-day moving average price is $105.45 and its 200-day moving average price is $94.16. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $110.87. The firm has a market capitalization of $76.83 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.00 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. 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 $4.38 billion for the quarter. Equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, September 29th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the stock a "hold" rating in a research note on Thursday, October 2nd. The Goldman Sachs Group boosted their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, October 6th. 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. Finally, Citigroup boosted their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.77.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the sale, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by corporate insiders.

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.

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