The Bank of New York Mellon Corporation $BK Shares Sold by Tiemann Investment Advisors LLC

Tiemann Investment Advisors LLC reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,392 shares of the bank’s stock after selling 260 shares during the quarter. Tiemann Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Capital Analysts LLC grew its holdings in Bank of New York Mellon by 3.7% during the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank’s stock worth $255,000 after acquiring an additional 119 shares during the last quarter. Hemington Wealth Management lifted its position in shares of Bank of New York Mellon by 8.0% during the 1st quarter. Hemington Wealth Management now owns 1,628 shares of the bank’s stock valued at $136,000 after acquiring an additional 121 shares during the period. Y.D. More Investments Ltd lifted its position in shares of Bank of New York Mellon by 13.8% during the 1st quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock valued at $86,000 after acquiring an additional 125 shares during the period. Syon Capital LLC lifted its position in shares of Bank of New York Mellon by 2.5% during the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock valued at $417,000 after acquiring an additional 132 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in Bank of New York Mellon by 1.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 12,504 shares of the bank’s stock worth $1,049,000 after buying an additional 138 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $101.20 on Thursday. The stock has a market cap of $71.37 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.95 and a beta of 1.12. The firm’s 50-day moving average is $96.45 and its 200 day moving average is $88.39. The Bank of New York Mellon Corporation has a 1 year low of $65.01 and a 1 year high of $104.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating 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 13.46%. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the business earned $1.51 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. Bank of New York Mellon’s payout ratio is 32.37%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BK shares. Keefe, Bruyette & Woods upped their price objective on shares of 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. Evercore ISI increased their price target 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. Truist Financial increased their target price 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. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley increased their price target on shares of 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. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.08.

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.