3,899 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,899 shares of the bank’s stock, valued at approximately $234,000.

Several other large investors have also modified their holdings of BK. The Manufacturers Life Insurance Company boosted its position in Bank of New York Mellon by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 600,834 shares of the bank’s stock valued at $31,273,000 after purchasing an additional 12,417 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Bank of New York Mellon by 25.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 53,688 shares of the bank’s stock worth $2,794,000 after buying an additional 10,799 shares during the last quarter. Cetera Advisor Networks LLC grew its position in shares of Bank of New York Mellon by 6.8% in the 4th quarter. Cetera Advisor Networks LLC now owns 93,306 shares of the bank’s stock worth $4,857,000 after buying an additional 5,976 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in Bank of New York Mellon by 6,029.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 116,589 shares of the bank’s stock valued at $6,068,000 after acquiring an additional 114,687 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in Bank of New York Mellon by 42.8% during the 4th quarter. Cibc World Markets Corp now owns 178,631 shares of the bank’s stock valued at $9,298,000 after purchasing an additional 53,552 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE:BK opened at $71.99 on Friday. The stock has a 50 day moving average of $67.46 and a two-hundred day moving average of $61.78. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $73.19. The firm has a market cap of $53.84 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. 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 posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the company earned $1.38 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, 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 business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a $0.47 dividend. The ex-dividend date was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.61%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. The Goldman Sachs Group increased their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Evercore ISI increased 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, Barclays raised their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.38.

About Bank of New York Mellon

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.