The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by CVA Family Office LLC

CVA Family Office LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 31.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,580 shares of the bank’s stock after acquiring an additional 380 shares during the quarter. CVA Family Office LLC’s holdings in Bank of New York Mellon were worth $66,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in Bank of New York Mellon by 8.3% during the first quarter. American Century Companies Inc. now owns 14,454,703 shares of the bank’s stock worth $717,387,000 after acquiring an additional 1,110,848 shares during the last quarter. Norges Bank acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $555,083,000. LSV Asset Management boosted its position in Bank of New York Mellon by 3.5% during the first quarter. LSV Asset Management now owns 7,607,994 shares of the bank’s stock worth $377,585,000 after acquiring an additional 259,773 shares during the last quarter. Victory Capital Management Inc. raised its stake in Bank of New York Mellon by 6.9% during the first quarter. Victory Capital Management Inc. now owns 7,474,905 shares of the bank’s stock worth $367,610,000 after purchasing an additional 479,927 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Bank of New York Mellon by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,981,439 shares of the bank’s stock worth $197,599,000 after purchasing an additional 31,025 shares during the period. Institutional investors and hedge funds own 83.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. Credit Suisse Group cut their price target on shares of Bank of New York Mellon from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 19th. The Goldman Sachs Group cut their price target on shares of Bank of New York Mellon from $51.50 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 29th. Royal Bank of Canada cut their price target on shares of Bank of New York Mellon from $56.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Friday, July 1st. Finally, Barclays set a $61.00 price target on shares of Bank of New York Mellon in a research note on Tuesday, July 19th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Hold” and an average price target of $50.73.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $44.21 on Tuesday. 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 market capitalization of $35.73 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. 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 firm’s fifty day moving average price is $43.06 and its 200 day moving average price is $44.96.

Bank of New York Mellon (NYSE:BKGet Rating) last released its quarterly earnings results on Friday, July 15th. The bank reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.09). Bank of New York Mellon had a return on equity of 9.49% and a net margin of 20.61%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.17 billion. During the same period last year, the firm earned $1.13 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that The Bank of New York Mellon Co. will post 4.22 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 25th were paid a dividend of $0.37 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, July 22nd. This represents a $1.48 annualized dividend and a yield of 3.35%. Bank of New York Mellon’s payout ratio is 37.56%.

Insiders Place Their Bets

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

Bank of New York Mellon Company Profile

(Get Rating)

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.

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

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