2 weeks Ago By ABMN Staff
Brandes Investment Partners LP increased its position in shares of The Bank of New York Mellon Co. ( NYSE:BK – Free Report ) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission.
The institutional investor owned 2,071,865 shares of the bank’s stock after purchasing an additional 161,314 shares during the period. Bank of New York Mellon makes up approximately 1.5% of Brandes Investment Partners LP’s portfolio, making the stock its 22nd largest position.
Brandes Investment Partners LP’s holdings in Bank of New York Mellon were worth $124,033,000 at the end of the most recent quarter. A number of other hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $30,000.
Clearstead Trust LLC purchased a new position in Bank of New York Mellon in the second quarter valued at about $32,000. Kathleen S. Wright Associates Inc.
purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth approximately $32,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $32,000. Finally, Family Firm Inc.
purchased a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.31% of the company’s stock.
Analysts Set New Price Targets A number of research firms have commented on BK. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $74.00 to $80.
00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their price objective on shares of Bank of New York Mellon from $68.00 to $75.
00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $61.00 to $66.
00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Morgan Stanley upped their target price on Bank of New York Mellon from $65.00 to $72.
00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Citigroup upped their price objective on Bank of New York Mellon from $65.00 to $70.
00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.
com, the company has an average rating of “Moderate Buy” and an average price target of $68.88. Insider Activity In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th.
The shares were sold at an average price of $64.11, for a total transaction of $961,650.00.
Following the completion of the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link .
Corporate insiders own 0.14% of the company’s stock. Bank of New York Mellon Price Performance BK opened at $71.
70 on Monday. The Bank of New York Mellon Co. has a 1 year low of $39.
66 and a 1 year high of $73.19. The company’s 50 day simple moving average is $66.
74 and its 200 day simple moving average is $61.29. The stock has a market capitalization of $53.
62 billion, a PE ratio of 16.60, a P/E/G ratio of 1.24 and a beta of 1.
08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.
70 and a current ratio of 0.70. Bank of New York Mellon ( NYSE:BK – Get Free Report ) last announced its quarterly earnings results on Friday, July 12th.
The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.
08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.
53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.
87%. Bank of New York Mellon’s revenue for the quarter was up 2.1% on a year-over-year basis.
During the same quarter last year, the business earned $1.38 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Co.
will post 5.63 EPS for the current year. Bank of New York Mellon Increases Dividend The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd.
Shareholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 22nd.
This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.
88 annualized dividend and a yield of 2.62%. Bank of New York Mellon’s dividend payout ratio is currently 43.
52%. Bank of New York Mellon Company Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co.
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