Bailard Inc. Has $1.26 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Bailard Inc. decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,007 shares of the bank’s stock after selling 351 shares during the quarter. Bailard Inc.’s holdings in Bank of New York Mellon were worth $1,258,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth approximately $7,754,000. Syon Capital LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at $233,000. Truist Financial Corp boosted its stake in Bank of New York Mellon by 33.2% in the 4th quarter. Truist Financial Corp now owns 1,297,698 shares of the bank’s stock worth $67,545,000 after purchasing an additional 323,343 shares during the period. PGGM Investments increased its holdings in Bank of New York Mellon by 37.6% during the 4th quarter. PGGM Investments now owns 130,022 shares of the bank’s stock worth $6,768,000 after purchasing an additional 35,497 shares in the last quarter. Finally, Fiduciary Group LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $217,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BK shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Evercore ISI raised their price target 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. Morgan Stanley lifted their price objective on shares of 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 increased their target price on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $66.14.

Bank of New York Mellon Stock Performance

BK traded up $0.60 on Monday, reaching $67.00. The company had a trading volume of 2,440,523 shares, compared to its average volume of 3,823,412. The stock has a market cap of $50.10 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 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 $67.32. The company’s fifty day moving average is $62.67 and its 200 day moving average is $58.93.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping 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 return on equity of 11.87% and a net margin of 9.40%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. As a group, analysts predict that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend 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 payout ratio is presently 43.52%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the 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 transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Company 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.