95,792 Shares in The Bank of New York Mellon Co. (NYSE:BK) Bought by DRW Securities LLC

DRW Securities LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 95,792 shares of the bank’s stock, valued at approximately $5,728,000.

Several other hedge funds have also recently added to or reduced their stakes in BK. Fidelis Capital Partners LLC acquired a new stake in Bank of New York Mellon in the second quarter worth $205,000. 1832 Asset Management L.P. increased its position in shares of Bank of New York Mellon by 1.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 47,837 shares of the bank’s stock valued at $2,865,000 after buying an additional 717 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $765,000. ProShare Advisors LLC lifted its holdings in Bank of New York Mellon by 2.2% during the second quarter. ProShare Advisors LLC now owns 174,067 shares of the bank’s stock worth $10,425,000 after acquiring an additional 3,717 shares in the last quarter. Finally, Kowal Investment Group LLC grew its stake in Bank of New York Mellon by 3.3% in the second quarter. Kowal Investment Group LLC now owns 9,010 shares of the bank’s stock valued at $540,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $71.82 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50-day moving average of $65.98 and a 200-day moving average of $60.68. The stock has a market capitalization of $53.71 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $71.96.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $1.38 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side 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 company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a dividend of $0.47 per share. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on 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. Keefe, Bruyette & Woods restated 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 upped their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley boosted their price objective 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, Barclays increased their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.59.

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.