Foundry Partners LLC Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Foundry Partners LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 387,029 shares of the bank’s stock after buying an additional 46,896 shares during the quarter. Bank of New York Mellon comprises approximately 1.2% of Foundry Partners LLC’s portfolio, making the stock its 15th biggest position. Foundry Partners LLC owned 0.05% of Bank of New York Mellon worth $23,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI lifted its position in Bank of New York Mellon by 4.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after buying an additional 165 shares during the period. Greenleaf Trust raised its position in shares of Bank of New York Mellon by 0.7% in the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock worth $1,633,000 after purchasing an additional 187 shares during the last quarter. 1858 Wealth Management LLC raised its position in shares of Bank of New York Mellon by 4.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock worth $291,000 after purchasing an additional 188 shares during the last quarter. Semmax Financial Advisors Inc. raised its position in shares of Bank of New York Mellon by 1.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after purchasing an additional 189 shares during the last quarter. Finally, Vivaldi Capital Management LP raised its position in shares of Bank of New York Mellon by 3.3% in the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock worth $324,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded up $0.10 during trading hours on Friday, reaching $68.10. 736,775 shares of the stock traded hands, compared to its average volume of 3,782,565. The company has a 50 day moving average price of $64.07 and a 200 day moving average price of $59.58. The firm has a market capitalization of $50.93 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.18 and a beta of 1.09. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $68.54. The company has a quick ratio of 0.70, a current 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 business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. On average, equities research 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. Shareholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. 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 2.76%. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Activity

In other news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, July 18th. The stock was 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 of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted 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. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Monday, July 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Evercore ISI lifted 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, Morgan Stanley lifted their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Six equities research 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, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $66.14.

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.