2 weeks Ago By Defense World Staff
Brandes Investment Partners LP grew its holdings in shares of The Bank of New York Mellon Co. ( NYSE:BK – Free Report ) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission.
The fund owned 2,071,865 shares of the bank’s stock after purchasing an additional 161,314 shares during the quarter. Bank of New York Mellon makes up about 1.5% of Brandes Investment Partners LP’s portfolio, making the stock its 22nd biggest holding.
Brandes Investment Partners LP owned approximately 0.28% of Bank of New York Mellon worth $124,033,000 at the end of the most recent quarter. A number of other large investors have also modified their holdings of the business.
Olistico Wealth LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at about $30,000. Able Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $32,000. Kathleen S.
Wright Associates Inc. purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000.
Finally, Family Firm Inc. purchased a new position in Bank of New York Mellon during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.
31% of the company’s stock. Analyst Upgrades and Downgrades Several brokerages have issued reports on BK. 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 report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.
00 to $80.00 in a report on Monday, September 23rd. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $61.
00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.
00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $74.
00 to $80.00 and gave the stock a “buy” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock.
According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.88.
Bank of New York Mellon Stock Performance NYSE:BK opened at $71.70 on Monday. The stock has a market capitalization of $53.
62 billion, a P/E ratio of 16.60, a PEG 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. The Bank of New York Mellon Co.
has a fifty-two week low of $39.66 and a fifty-two week high of $73.19.
The company has a 50 day moving average price of $66.74 and a 200 day moving average price of $61.29.
Bank of New York Mellon ( NYSE:BK – Get Free Report ) last issued its quarterly earnings data 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. Bank of New York Mellon had a return on equity of 11.
87% and a net margin of 9.40%. The business had revenue of $4.
60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the firm posted $1.
38 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis.
Equities research analysts forecast 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share.
This represents a $1.88 annualized dividend and a dividend yield of 2.62%.
The ex-dividend date was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42.
Bank of New York Mellon’s dividend payout ratio is currently 43.52%. Insider Buying and Selling In related news, VP Hanneke Smits sold 15,000 shares of the firm’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 value of $961,650.00.
Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink .
0.14% of the stock is currently owned by insiders. About Bank of New York Mellon ( 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 Five stocks we like better than Bank of New York Mellon What is the Nikkei 225 index? 3 Bargain Stocks Under $20 With Major Growth Potential What is the Euro STOXX 50 Index? Top 5 ETFs to Own Now and Into 2025 5 discounted opportunities for dividend growth investors Watch These 3 Former Short-Squeeze Stocks for a Big Rally 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. ( NYSE:BK – Free Report ). Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.
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