The Bank of New York Mellon Corporation $BK Shares Bought by Swedbank AB

Swedbank AB grew its position in The Bank of New York Mellon Corporation (NYSE:BK) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 809,573 shares of the bank’s stock after acquiring an additional 11,809 shares during the period. Swedbank AB owned about 0.11% of Bank of New York Mellon worth $67,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Bank of New York Mellon during the first quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $25,000. Orion Capital Management LLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $32,000. Cornerstone Planning Group LLC grew its stake in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after buying an additional 196 shares during the period. Finally, REAP Financial Group LLC lifted its holdings in shares of Bank of New York Mellon by 123.2% in the 4th 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 last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction that occurred on 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 directly owned 35,115 shares of the company’s stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $106.46 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $101.15 and a two-hundred day moving average price of $90.49. The Bank of New York Mellon Corporation has a twelve month low of $68.51 and a twelve month high of $106.57. The company has a market capitalization of $75.08 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.00 and a beta of 1.14.

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

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. The ex-dividend date was Friday, July 25th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s payout ratio is presently 32.37%.

Analyst Ratings Changes

Several brokerages have recently commented on BK. Truist Financial upped their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Thursday, August 14th. Citigroup increased their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Morgan Stanley increased their price objective on shares of 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. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.62.

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.