Williams Financial LLC Purchases Shares of 10,392 The Bank of New York Mellon Co. (NYSE:BK)

Williams Financial LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,392 shares of the bank’s stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wetzel Investment Advisors Inc. raised its position in shares of Bank of New York Mellon by 82.1% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after acquiring an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in shares of 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 in the 2nd quarter worth approximately $30,000. Able Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $32,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several research reports. Evercore ISI increased their target price 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. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday. Morgan Stanley raised their price objective on 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.14.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 1.0 %

BK traded up $0.63 during trading on Friday, hitting $65.61. 7,017,893 shares of the company’s stock traded hands, compared to its average volume of 3,866,519. The company’s 50 day simple moving average is $61.82 and its two-hundred day simple moving average is $58.48. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $65.90. The stock has a market capitalization of $49.06 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.14 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 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 business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period last year, the business posted $1.38 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Analysts predict that The Bank of New York Mellon Co. will post 5.6 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. Stockholders of record on Monday, July 22nd were paid a $0.47 dividend. 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 2.87%. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

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.