The Bank of New York Mellon Corporation $BK Holdings Decreased by IFG Advisory LLC

IFG Advisory LLC decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 82,052 shares of the bank’s stock after selling 3,494 shares during the quarter. IFG Advisory LLC’s holdings in Bank of New York Mellon were worth $7,476,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Hemington Wealth Management boosted its position in Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after acquiring an additional 102 shares during the period. Confluence Wealth Services Inc. increased its stake in Bank of New York Mellon by 1.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after buying an additional 111 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. increased its stake in Bank of New York Mellon by 2.2% in the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock valued at $464,000 after buying an additional 112 shares during the period. Sax Wealth Advisors LLC grew its holdings in shares of Bank of New York Mellon by 2.3% during the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock valued at $443,000 after acquiring an additional 117 shares in the last quarter. Finally, Y.D. More Investments Ltd grew its holdings 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 in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.7%

Shares of BK stock opened at $107.85 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $106.58 and its two-hundred day moving average is $96.50. The company has a market cap of $76.06 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87.

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

Bank of New York Mellon Announces Dividend

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

Wall Street Analysts Forecast Growth

BK has been the topic of several research reports. TD Cowen upped their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. The Goldman Sachs Group lifted their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. Citigroup raised their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

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.