The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Greystone Financial Group LLC

Greystone Financial Group LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 173,745 shares of the bank’s stock after acquiring an additional 6,134 shares during the period. Bank of New York Mellon makes up approximately 2.0% of Greystone Financial Group LLC’s holdings, making the stock its 15th largest holding. Greystone Financial Group LLC’s holdings in Bank of New York Mellon were worth $10,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its stake in shares of Bank of New York Mellon by 4.7% in the fourth quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock worth $487,000 after acquiring an additional 419 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $219,000. Private Advisor Group LLC grew its stake in Bank of New York Mellon by 2.5% in the fourth quarter. Private Advisor Group LLC now owns 35,744 shares of the bank’s stock worth $1,860,000 after purchasing an additional 867 shares in the last quarter. Lincoln National Corp lifted its holdings in Bank of New York Mellon by 1.9% during the 4th quarter. Lincoln National Corp now owns 14,980 shares of the bank’s stock worth $780,000 after buying an additional 276 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Bank of New York Mellon by 45.6% during the fourth quarter. Apollon Wealth Management LLC now owns 18,744 shares of the bank’s stock worth $976,000 after purchasing an additional 5,872 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 2.3 %

Shares of NYSE:BK traded down $1.59 during trading on Friday, hitting $66.41. 4,114,892 shares of the company’s stock traded hands, compared to its average volume of 3,802,205. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $68.60. The company has a 50-day moving average price of $64.20 and a 200-day moving average price of $59.66. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the firm earned $1.38 EPS. Bank of New York Mellon’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were paid a $0.47 dividend. 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. This represents a $1.88 annualized dividend and a dividend yield of 2.83%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BK shares. Barclays increased their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley raised their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $66.14.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction 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 completion of the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

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.