Sanctuary Advisors LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Sanctuary Advisors LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 91,320 shares of the bank’s stock, valued at approximately $5,234,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Bank of New York Mellon by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after purchasing an additional 165 shares during the period. Lake Street Advisors Group LLC increased its holdings in Bank of New York Mellon by 3.8% in the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after purchasing an additional 171 shares in the last quarter. Greenleaf Trust lifted its stake in Bank of New York Mellon by 0.7% in the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after buying an additional 187 shares during the period. 1858 Wealth Management LLC boosted its holdings in shares of Bank of New York Mellon by 4.0% during the 2nd quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock worth $291,000 after buying an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 1.9% during the 1st quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after buying an additional 189 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.7 %

Bank of New York Mellon stock opened at $71.99 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $53.84 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.24 and a beta of 1.08. The firm has a 50 day moving average price of $67.46 and a 200-day moving average price of $61.78. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $73.19.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping 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 revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the 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 sale, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays increased their target price on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Citigroup increased their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.38.

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.