SYSTM Wealth Solutions LLC Sells 914 Shares of The Bank of New York Mellon Co. (NYSE:BK)

SYSTM Wealth Solutions LLC decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 27.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,446 shares of the bank’s stock after selling 914 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Bank of New York Mellon were worth $146,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC bought a new position in Bank of New York Mellon in the second quarter valued at about $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon during the 1st quarter worth approximately $32,000. Able Wealth Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $32,000. Finally, Family Firm Inc. acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BK shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI lifted their target price on shares of 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. Morgan Stanley upped their price target on shares of 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. Finally, Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

Bank of New York Mellon Stock Up 0.3 %

Bank of New York Mellon stock opened at $71.04 on Thursday. The firm has a market capitalization of $53.12 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The firm’s fifty day moving average price is $65.63 and its two-hundred day moving average price is $60.46. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $71.80. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. On average, equities research analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.65%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insiders Place Their Bets

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

Bank of New York Mellon Company 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.