Continuum Advisory LLC Grows Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Continuum Advisory LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 95.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,216 shares of the bank’s stock after buying an additional 593 shares during the period. Continuum Advisory LLC’s holdings in Bank of New York Mellon were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. lifted 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 buying an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $28,000. Olistico Wealth LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $30,000. Able Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Bank of New York Mellon in the first quarter worth $32,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the subject of several research analyst reports. Evercore ISI lifted 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. Citigroup cut shares of 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 report on Monday, July 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.14.

Bank of New York Mellon Trading Down 0.6 %

Shares of BK stock opened at $65.34 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71. The company has a market cap of $48.86 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $65.93. The firm has a fifty day moving average price of $62.05 and a 200-day moving average price of $58.62.

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 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 during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities 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 company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.88%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value 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 $11,150,652.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

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.