Chris Bulman Inc Acquires New Position in The Bank of New York Mellon Co. (NYSE:BK)

Chris Bulman Inc bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,329 shares of the bank’s stock, valued at approximately $139,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. boosted its stake in shares of Bank of New York Mellon by 82.1% in the first quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after acquiring an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $28,000. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth $30,000. Able Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Bank of New York Mellon in the first quarter worth about $32,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction 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 filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 2.3 %

Shares of NYSE:BK opened at $66.41 on Friday. The business has a 50 day simple moving average of $64.20 and a two-hundred day simple moving average of $59.69. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $68.60. 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 firm has a market capitalization of $49.66 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its 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 firm had revenue of $4.60 billion during 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 business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This is a positive change 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 2.83%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Monday, July 15th. Morgan Stanley upped their target price 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 lifted their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

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.