The Bank of New York Mellon Corporation (NYSE:BK) Position Increased by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 38.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,664 shares of the bank’s stock after buying an additional 1,012 shares during the period. Parcion Private Wealth LLC’s holdings in Bank of New York Mellon were worth $307,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC acquired a new position in Bank of New York Mellon in the 4th quarter worth approximately $220,000. EverSource Wealth Advisors LLC boosted its stake in shares of Bank of New York Mellon by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,295 shares of the bank’s stock valued at $99,000 after buying an additional 259 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Bank of New York Mellon by 2.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 162,376 shares of the bank’s stock valued at $12,475,000 after buying an additional 4,200 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Bank of New York Mellon by 15.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 58,892 shares of the bank’s stock valued at $4,525,000 after buying an additional 7,863 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of Bank of New York Mellon by 18.3% during the 4th quarter. Corient Private Wealth LLC now owns 335,507 shares of the bank’s stock valued at $24,896,000 after buying an additional 51,913 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BK shares. Citigroup lifted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Evercore ISI lifted their target price 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 note on Wednesday, July 2nd. Wells Fargo & Company lifted their target price on shares of 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. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted 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 note on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $94.38.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president directly owned 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $95.43 on Thursday. The company has a market capitalization of $68.27 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $96.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The company’s fifty day moving average price is $90.33 and its 200 day moving average price is $84.93.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.57%. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.53 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.22%. Bank of New York Mellon’s payout ratio is presently 30.62%.

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.