The Bank of New York Mellon Corporation $BK Shares Bought by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC raised its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 51.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,984 shares of the bank’s stock after acquiring an additional 2,036 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted its stake in Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after buying an additional 196 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Bank of New York Mellon during the first quarter valued at about $32,000. Hoey Investments Inc. purchased a new stake in Bank of New York Mellon during the second quarter valued at about $32,000. Golden State Wealth Management LLC lifted its stake in Bank of New York Mellon by 226.4% during the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after buying an additional 283 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in Bank of New York Mellon during the first quarter valued at about $34,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI upped 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. The Goldman Sachs Group upped their target price 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. TD Cowen upped their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 24th. Finally, Wells Fargo & Company upped their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $111.29.

Bank of New York Mellon Trading Up 0.9%

NYSE:BK opened at $108.59 on Wednesday. The stock’s 50 day moving average price is $106.34 and its 200 day moving average price is $96.21. 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 capitalization of $76.58 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The firm had revenue of $4.38 billion for the quarter. On average, 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be given a dividend of $0.53 per share. 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 is presently 30.59%.

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.