US Bancorp DE Sells 7,152 Shares of The Bank of New York Mellon Corporation $BK

US Bancorp DE decreased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 207,391 shares of the bank’s stock after selling 7,152 shares during the quarter. US Bancorp DE’s holdings in Bank of New York Mellon were worth $18,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Confluence Wealth Services Inc. lifted its position in Bank of New York Mellon by 1.0% during the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 111 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in shares of Bank of New York Mellon by 2.2% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock valued at $464,000 after acquiring an additional 112 shares during the period. Sax Wealth Advisors LLC increased its stake in Bank of New York Mellon by 2.3% in the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after buying an additional 117 shares during the period. Hemington Wealth Management increased its stake in Bank of New York Mellon by 8.0% in the 1st quarter. Hemington Wealth Management now owns 1,628 shares of the bank’s stock worth $136,000 after buying an additional 121 shares during the period. Finally, Y.D. More Investments Ltd increased its stake in Bank of New York Mellon by 13.8% in the 1st quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock worth $86,000 after buying an additional 125 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BK shares. Wells Fargo & Company raised 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 research note on Wednesday, July 16th. Citigroup raised their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Wednesday. Finally, Truist Financial increased their target price on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.77.

Bank of New York Mellon Stock Down 2.1%

Shares of Bank of New York Mellon stock opened at $104.63 on Friday. The firm’s 50 day moving average price is $105.10 and its 200-day moving average price is $93.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87. The company has a market cap of $73.79 billion, a P/E ratio of 15.97, a PEG ratio of 1.00 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm had revenue of $4.38 billion during the quarter. On average, sell-side analysts predict 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 company also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were issued a $0.53 dividend. 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 2.0%. The ex-dividend date of this dividend was Friday, July 25th. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon 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 transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon 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.