Ellsworth Advisors LLC Acquires Shares of 3,463 The Bank of New York Mellon Co. (NYSE:BK)

Ellsworth Advisors LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,463 shares of the bank’s stock, valued at approximately $207,000.

Several other institutional investors have also added to or reduced their stakes in the business. Greenleaf Trust increased its position in shares of Bank of New York Mellon by 0.7% in the first 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. Semmax Financial Advisors Inc. boosted its stake in shares of Bank of New York Mellon by 1.9% during the first quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock valued at $591,000 after purchasing an additional 189 shares during the period. Vivaldi Capital Management LP boosted its stake in shares of Bank of New York Mellon by 3.3% during the fourth quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after purchasing an additional 192 shares during the period. LVW Advisors LLC boosted its stake in shares of Bank of New York Mellon by 1.4% during the second quarter. LVW Advisors LLC now owns 14,058 shares of the bank’s stock valued at $842,000 after purchasing an additional 196 shares during the period. Finally, Certuity LLC boosted its stake in shares of Bank of New York Mellon by 2.3% during the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after purchasing an additional 205 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. 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 note on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued 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. Morgan Stanley increased 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. Barclays increased their price objective 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. Finally, Evercore ISI increased their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $0.63 on Friday, hitting $65.61. The stock had a trading volume of 7,017,893 shares, compared to its average volume of 3,866,519. The stock has a market cap of $49.06 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The business’s 50-day simple moving average is $61.82 and its two-hundred day simple moving average is $58.44. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $65.90.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the firm earned $1.38 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. 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 dividend on an annualized basis and a yield of 2.87%. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 15,000 shares of the business’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 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 the SEC website. 0.14% of the stock is owned by insiders.

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.