Capital Fund Management S.A. Acquires 157,875 Shares of The Bank of New York Mellon Corporation $BK

Capital Fund Management S.A. increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 128.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 281,137 shares of the bank’s stock after acquiring an additional 157,875 shares during the period. Capital Fund Management S.A.’s holdings in Bank of New York Mellon were worth $23,579,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $220,000. Transce3nd LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at $33,000. TD Waterhouse Canada Inc. increased its holdings in Bank of New York Mellon by 5.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 68,024 shares of the bank’s stock valued at $5,229,000 after acquiring an additional 3,635 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Bank of New York Mellon by 1.7% in the 4th quarter. OneDigital Investment Advisors LLC now owns 25,376 shares of the bank’s stock valued at $1,950,000 after acquiring an additional 435 shares during the last quarter. Finally, Quantessence Capital LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth $496,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BK. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Morgan Stanley upped their price objective on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Evercore ISI increased their target price on 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, Truist Financial boosted their price target on shares of 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. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.08.

Bank of New York Mellon Stock Performance

NYSE BK opened at $101.20 on Thursday. The business’s 50 day moving average price is $96.45 and its 200-day moving average price is $88.39. The Bank of New York Mellon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $104.47. The company has a market cap of $71.37 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the company earned $1.51 earnings per share. Bank of New York Mellon’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were paid a $0.53 dividend. 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. This represents a $2.12 annualized dividend and a yield of 2.1%. Bank of New York Mellon’s payout ratio is 32.37%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was 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 represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

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.