Vestor Capital LLC Buys New Position in The Bank of New York Mellon Co. (NYSE:BK)

Vestor Capital LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 273,164 shares of the bank’s stock, valued at approximately $13,557,000. Bank of New York Mellon comprises 1.3% of Vestor Capital LLC’s portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New Hampshire bought a new position in shares of Bank of New York Mellon in the first quarter worth approximately $31,000. Dividend Assets Capital LLC bought a new position in shares of Bank of New York Mellon in the first quarter worth approximately $32,000. Bromfield Sneider Wealth Advisors bought a new position in shares of Bank of New York Mellon in the first quarter worth approximately $33,000. Prospera Financial Services Inc bought a new position in shares of Bank of New York Mellon in the first quarter worth approximately $37,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $38,000. 83.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BK has been the topic of several recent analyst reports. Morgan Stanley cut their target price on shares of Bank of New York Mellon from $53.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. 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 report on Wednesday, June 29th. JPMorgan Chase & Co. cut their price target on shares of Bank of New York Mellon from $51.50 to $46.50 in a report on Monday, July 11th. Piper Sandler cut their price target on shares of Bank of New York Mellon from $54.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, June 24th. Finally, 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 report on Tuesday, July 19th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.42.

Bank of New York Mellon Stock Up 1.0 %

Shares of BK traded up $0.44 during trading hours on Friday, hitting $43.50. The company had a trading volume of 2,533,724 shares, compared to its average volume of 3,044,081. The firm has a fifty day moving average price of $43.02 and a 200-day moving average price of $48.31. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.68 and a current ratio of 0.67. The stock has a market capitalization of $35.14 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.67 and a beta of 1.12. The Bank of New York Mellon Co. has a 52-week low of $39.78 and a 52-week high of $64.63.

Bank of New York Mellon (NYSE:BKGet Rating) last posted 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). The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Bank of New York Mellon had a return on equity of 9.49% and a net margin of 20.61%. Bank of New York Mellon’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 4.3 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 25th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.40%. 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. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 37.56%.

About Bank of New York Mellon

(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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