Jackson Creek Investment Advisors LLC Purchases New Position in The Bank of New York Mellon Co. (NYSE:BK)

Jackson Creek Investment Advisors LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 5,597 shares of the bank’s stock, valued at approximately $335,000.

A number of other institutional investors also recently made changes to their positions in BK. Gilbert & Cook Inc. grew its holdings in Bank of New York Mellon by 4.7% in the 4th quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock valued at $487,000 after buying an additional 419 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of Bank of New York Mellon by 1.8% in the fourth quarter. Natixis Advisors L.P. now owns 242,621 shares of the bank’s stock valued at $12,627,000 after acquiring an additional 4,361 shares in the last quarter. Merit Financial Group LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $219,000. Axxcess Wealth Management LLC raised its stake in Bank of New York Mellon by 3.7% in the 4th quarter. Axxcess Wealth Management LLC now owns 12,111 shares of the bank’s stock worth $630,000 after purchasing an additional 429 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Bank of New York Mellon by 2.5% in the 4th quarter. Private Advisor Group LLC now owns 35,744 shares of the bank’s stock valued at $1,860,000 after purchasing an additional 867 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $67.72 on Thursday. The stock has a market cap of $50.64 billion, a PE ratio of 15.68, a P/E/G ratio of 1.18 and a beta of 1.09. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $68.54. The business’s 50-day moving average price is $63.90 and its two-hundred day moving average price is $59.52.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. As a group, analysts expect that The Bank of New York Mellon Co. will post 5.63 earnings per share 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 2nd. Stockholders of record on Monday, July 22nd were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Monday, July 15th. Morgan Stanley upped their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Evercore ISI raised their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

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.