Siemens Fonds Invest GmbH Decreases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Siemens Fonds Invest GmbH lessened its stake in The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 4.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,277 shares of the bank’s stock after selling 391 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Bank of New York Mellon were worth $411,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BK. Mission Wealth Management LP grew its stake in shares of Bank of New York Mellon by 1.4% in the fourth quarter. Mission Wealth Management LP now owns 14,342 shares of the bank’s stock valued at $833,000 after buying an additional 200 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Bank of New York Mellon by 9.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,423 shares of the bank’s stock valued at $140,000 after purchasing an additional 205 shares during the last quarter. Waldron Private Wealth LLC boosted its holdings in Bank of New York Mellon by 4.0% in the first quarter. Waldron Private Wealth LLC now owns 6,246 shares of the bank’s stock valued at $309,000 after purchasing an additional 239 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in Bank of New York Mellon by 1.7% in the first quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock valued at $717,000 after purchasing an additional 245 shares during the last quarter. Finally, AllSquare Wealth Management LLC boosted its holdings in Bank of New York Mellon by 25.7% in the first quarter. AllSquare Wealth Management LLC now owns 1,203 shares of the bank’s stock valued at $60,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.

Insider Activity

In other news, CEO Thomas P. Gibbons sold 105,062 shares of Bank of New York Mellon stock in a transaction on Monday, August 8th. The stock was sold at an average price of $43.24, for a total transaction of $4,542,880.88. Following the transaction, the chief executive officer now directly owns 221,018 shares in the company, valued at approximately $9,556,818.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on BK. Barclays set a $61.00 price target on Bank of New York Mellon in a report on Tuesday, July 19th. Morgan Stanley reduced their target price on Bank of New York Mellon from $53.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. Credit Suisse Group reduced their target price on Bank of New York Mellon from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, July 19th. The Goldman Sachs Group reduced their target price on Bank of New York Mellon from $51.50 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. reduced their target price on Bank of New York Mellon from $51.50 to $46.50 in a report on Monday, July 11th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $50.73.

Bank of New York Mellon Stock Up 0.7 %

BK opened at $44.14 on Monday. The Bank of New York Mellon Co. has a 12 month low of $39.78 and a 12 month high of $64.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $35.67 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.74 and a beta of 1.11. The stock’s 50 day moving average price is $42.86 and its 200 day moving average price is $45.26.

Bank of New York Mellon (NYSE:BKGet Rating) last posted its earnings results on Friday, July 15th. The bank reported $1.03 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.09). Bank of New York Mellon had a net margin of 20.61% and a return on equity of 9.49%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that The Bank of New York Mellon Co. will post 4.22 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 Friday, August 5th. Stockholders of record on Monday, July 25th were given a dividend of $0.37 per share. The ex-dividend date was Friday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 3.35%. Bank of New York Mellon’s dividend payout ratio (DPR) is 37.56%.

About Bank of New York Mellon

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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, prime brokerage, and data analytics.

Further Reading

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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