Falcon Wealth Planning Has $3.17 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Falcon Wealth Planning decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,735 shares of the bank’s stock after selling 812 shares during the quarter. Falcon Wealth Planning’s holdings in Bank of New York Mellon were worth $3,165,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BK. Nuveen LLC acquired a new stake in Bank of New York Mellon during the 1st quarter valued at $773,627,000. GAMMA Investing LLC lifted its holdings in Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank’s stock valued at $117,414,000 after purchasing an additional 1,385,434 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in Bank of New York Mellon during the 1st quarter valued at $92,502,000. Goldman Sachs Group Inc. lifted its holdings in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Bank of New York Mellon by 257.6% during the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock valued at $103,685,000 after purchasing an additional 890,593 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.9%

Shares of NYSE BK opened at $109.12 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The Bank of New York Mellon Corporation has a 52 week low of $70.41 and a 52 week high of $110.87. The stock has a market capitalization of $76.95 billion, a P/E ratio of 16.66, a PEG ratio of 1.02 and a beta of 1.14. The stock’s fifty day moving average is $103.58 and its 200 day moving average is $91.82.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 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 for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the business 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 forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were given a $0.53 dividend. The ex-dividend date 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 dividend on an annualized basis and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

Insider Activity 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 stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent research reports. Morgan Stanley increased their price objective on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Citigroup increased their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Truist Financial increased their price objective on 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. Evercore ISI increased their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

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.