Bragg Financial Advisors Inc Has $2.79 Million Holdings in The Bank of New York Mellon Corporation $BK

Bragg Financial Advisors Inc lessened its stake in The Bank of New York Mellon Corporation (NYSE:BKFree Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,203 shares of the bank’s stock after selling 871 shares during the quarter. Bragg Financial Advisors Inc’s holdings in Bank of New York Mellon were worth $2,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Revolve Wealth Partners LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $220,000. OneDigital Investment Advisors LLC grew its position in Bank of New York Mellon by 1.7% in the fourth quarter. OneDigital Investment Advisors LLC now owns 25,376 shares of the bank’s stock valued at $1,950,000 after acquiring an additional 435 shares during the last quarter. Syon Capital LLC grew its position in Bank of New York Mellon by 2.5% in the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock valued at $417,000 after acquiring an additional 132 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Bank of New York Mellon by 14.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 42,975 shares of the bank’s stock valued at $3,302,000 after acquiring an additional 5,509 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Bank of New York Mellon by 4.8% during the fourth quarter. Voya Investment Management LLC now owns 1,486,961 shares of the bank’s stock worth $114,243,000 after purchasing an additional 68,653 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at $3,457,071.75. This 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 available through this link. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Evercore ISI boosted their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, July 2nd. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Truist Financial boosted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Thursday, August 14th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $95.08.

Check Out Our Latest Stock Report on Bank of New York Mellon

Bank of New York Mellon Price Performance

Shares of BK opened at $101.7220 on Friday. The Bank of New York Mellon Corporation has a 52-week low of $65.24 and a 52-week high of $104.47. 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 business’s 50 day moving average price is $96.69 and its two-hundred day moving average price is $88.50. The firm has a market cap of $71.74 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.96 and a beta of 1.12.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. This is a positive change 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 2.1%. Bank of New York Mellon’s payout ratio is currently 32.37%.

About Bank of New York Mellon

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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