SOA Wealth Advisors LLC. Has $652,000 Stake in The Bank of New York Mellon Corporation $BK

SOA Wealth Advisors LLC. raised its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 1,225.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,160 shares of the bank’s stock after acquiring an additional 6,620 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Bank of New York Mellon were worth $652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First Pacific Financial bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $4,302,000. Trust Co. of Vermont increased its holdings in Bank of New York Mellon by 22.9% in the second quarter. Trust Co. of Vermont now owns 10,682 shares of the bank’s stock valued at $973,000 after purchasing an additional 1,987 shares during the last quarter. PFG Investments LLC lifted its stake in Bank of New York Mellon by 4.8% in the second quarter. PFG Investments LLC now owns 4,691 shares of the bank’s stock valued at $427,000 after buying an additional 213 shares during the period. Truist Financial Corp boosted its holdings in Bank of New York Mellon by 3.8% during the second quarter. Truist Financial Corp now owns 2,061,235 shares of the bank’s stock worth $187,799,000 after buying an additional 75,933 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $2,055,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Down 1.9%

NYSE:BK opened at $106.89 on Thursday. The stock has a 50-day simple moving average of $104.36 and a 200 day simple moving average of $92.60. The Bank of New York Mellon Corporation has a 52-week low of $70.41 and a 52-week high of $110.87. The company has a market cap of $75.39 billion, a PE ratio of 16.32, a PEG ratio of 1.03 and a beta of 1.13. 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 released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share 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 firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $1.51 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a dividend of $0.53 per share. 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. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s payout ratio is presently 32.37%.

Analyst Ratings Changes

BK has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target 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 report on Wednesday, July 16th. Evercore ISI increased their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Truist Financial raised 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 note on Thursday, August 14th. Finally, TD Cowen began coverage on Bank of New York Mellon in a research note on Thursday, September 25th. They issued a “buy” rating for the company. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.92.

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.