Wedmont Private Capital Buys Shares of 4,974 The Bank of New York Mellon Co. (NYSE:BK)

Wedmont Private Capital bought a new stake in The Bank of New York Mellon Co. (NYSE:BKGet Rating) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 4,974 shares of the bank’s stock, valued at approximately $207,000.

A number of other institutional investors also recently bought and sold shares of BK. Brown Brothers Harriman & Co. lifted its holdings in Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares during the period. Bank of New Hampshire bought a new position in Bank of New York Mellon in the first quarter valued at about $31,000. Dividend Assets Capital LLC bought a new position in shares of Bank of New York Mellon in the first quarter worth about $32,000. Bromfield Sneider Wealth Advisors bought a new position in shares of Bank of New York Mellon in the first quarter worth about $33,000. Finally, Prospera Financial Services Inc bought a new position in shares of Bank of New York Mellon in the first quarter worth about $37,000. Institutional investors own 83.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BK shares. The Goldman Sachs Group decreased their price objective on Bank of New York Mellon from $51.50 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 29th. Wells Fargo & Company decreased their price objective on Bank of New York Mellon from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, July 1st. Royal Bank of Canada decreased their price objective on Bank of New York Mellon from $56.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Friday, July 1st. JPMorgan Chase & Co. decreased their price objective on Bank of New York Mellon from $51.50 to $46.50 in a research note on Monday, July 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $42.00 to $46.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.73.

Bank of New York Mellon Stock Performance

NYSE BK opened at $43.27 on Wednesday. The stock has a market capitalization of $34.97 billion, a PE ratio of 11.22, a P/E/G ratio of 1.73 and a beta of 1.11. The business has a 50 day simple moving average of $43.11 and a two-hundred day simple moving average of $44.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.67 and a quick ratio of 0.67. The Bank of New York Mellon Co. has a 1-year low of $39.78 and a 1-year high of $64.63.

Bank of New York Mellon (NYSE:BKGet Rating) last released its quarterly earnings results on Friday, July 15th. The bank reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.09). The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Bank of New York Mellon had a net margin of 20.61% and a return on equity of 9.49%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. On average, research analysts predict that The Bank of New York Mellon Co. will post 4.22 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 Friday, August 5th. Shareholders of record on Monday, July 25th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.34. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 37.56%.

Insider Buying and Selling at Bank of New York Mellon

In other news, CEO Thomas P. Gibbons sold 105,062 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $43.24, for a total value of $4,542,880.88. Following the completion of the transaction, the chief executive officer now owns 221,018 shares in the company, valued at approximately $9,556,818.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by company insiders.

Bank of New York Mellon Company Profile

(Get Rating)

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, prime brokerage, and data analytics.

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

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