The Bank of New York Mellon Corporation $BK Shares Sold by TrueMark Investments LLC

TrueMark Investments LLC cut its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 81.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,312 shares of the bank’s stock after selling 41,738 shares during the period. TrueMark Investments LLC’s holdings in Bank of New York Mellon were worth $848,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after purchasing an additional 196 shares during the last quarter. Orion Capital Management LLC bought a new stake in Bank of New York Mellon in the 1st quarter valued at about $32,000. Hoey Investments Inc. bought a new stake in Bank of New York Mellon in the 2nd quarter valued at about $32,000. Finally, Golden State Wealth Management LLC lifted its position in Bank of New York Mellon by 226.4% in the 1st quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after purchasing an additional 283 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

NYSE BK opened at $105.77 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The company’s 50 day simple moving average is $105.59 and its 200 day simple moving average is $94.54. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87. The firm has a market capitalization of $74.59 billion, a PE ratio of 15.26, a P/E/G ratio of 0.99 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The business had revenue of $4.38 billion for the quarter. As a group, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s payout ratio is presently 30.59%.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BK has been the topic of several recent research reports. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday. Barclays upped their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Evercore ISI raised their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $109.62.

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.