The Bank of New York Mellon Corporation $BK Shares Acquired by Czech National Bank

Czech National Bank raised its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,877 shares of the bank’s stock after acquiring an additional 10,037 shares during the quarter. Czech National Bank’s holdings in Bank of New York Mellon were worth $15,933,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BK. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new position in Bank of New York Mellon in the first quarter worth approximately $25,000. REAP Financial Group LLC grew its position in Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after acquiring an additional 218 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after buying an additional 196 shares during the period. Finally, Orion Capital Management LLC purchased a new position in shares of Bank of New York Mellon during the first quarter worth $32,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.9%

BK stock opened at $105.45 on Wednesday. The company has a market cap of $74.37 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.00 and a beta of 1.14. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $101.67 and a 200-day simple moving average of $90.76. The Bank of New York Mellon Corporation has a 52 week low of $70.25 and a 52 week high of $107.01.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm earned $1.51 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, July 25th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s dividend payout ratio is currently 32.37%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BK. Evercore ISI increased their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company raised their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Citigroup lifted their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Truist Financial lifted their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Finally, Morgan Stanley boosted their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.62.

About Bank of New York Mellon

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.