Biechele Royce Advisors Increases Stock Position in Bank of New York Mellon Corp (NYSE:BK)

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Biechele Royce Advisors grew its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,804 shares of the bank’s stock after purchasing an additional 1,808 shares during the period. Bank of New York Mellon makes up approximately 2.7% of Biechele Royce Advisors’ investment portfolio, making the stock its 18th biggest position. Biechele Royce Advisors’ holdings in Bank of New York Mellon were worth $4,283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BK. Capstone Financial Group Inc. raised its stake in Bank of New York Mellon by 39.1% during the second quarter. Capstone Financial Group Inc. now owns 1,053 shares of the bank’s stock valued at $40,000 after purchasing an additional 296 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of Bank of New York Mellon by 18.3% in the 1st quarter. Laurel Wealth Advisors LLC now owns 1,941 shares of the bank’s stock worth $65,000 after buying an additional 300 shares during the last quarter. Column Capital Advisors LLC raised its position in shares of Bank of New York Mellon by 20.6% during the 1st quarter. Column Capital Advisors LLC now owns 1,758 shares of the bank’s stock valued at $59,000 after buying an additional 300 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of Bank of New York Mellon by 13.2% in the 1st quarter. CSat Investment Advisory L.P. now owns 2,706 shares of the bank’s stock valued at $91,000 after acquiring an additional 316 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in Bank of New York Mellon by 0.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 36,030 shares of the bank’s stock worth $1,393,000 after acquiring an additional 330 shares in the last quarter. 81.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BK stock traded down $0.01 during trading hours on Friday, reaching $35.85. 4,720,555 shares of the company’s stock were exchanged, compared to its average volume of 5,642,533. Bank of New York Mellon Corp has a fifty-two week low of $26.40 and a fifty-two week high of $51.60. The stock’s 50 day moving average is $37.53 and its 200-day moving average is $38.56. The company has a current ratio of 0.68, a quick ratio of 0.72 and a debt-to-equity ratio of 0.74. The company has a market cap of $31.75 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 1.15 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, July 15th. The bank reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.10. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.91 billion. Bank of New York Mellon had a return on equity of 10.34% and a net margin of 22.31%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. Equities analysts anticipate that Bank of New York Mellon Corp will post 3.91 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Monday, July 27th will be given a $0.31 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.24 dividend on an annualized basis and a yield of 3.46%. Bank of New York Mellon’s dividend payout ratio is currently 30.85%.

In related news, EVP J Kevin Mccarthy sold 10,000 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.12, for a total transaction of $351,200.00. Following the transaction, the executive vice president now owns 119,870 shares in the company, valued at $4,209,834.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mitchell E. Harris sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $35.75, for a total value of $1,251,250.00. Following the transaction, the executive vice president now directly owns 145,425 shares in the company, valued at approximately $5,198,943.75. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

BK has been the subject of several analyst reports. ValuEngine raised Bank of New York Mellon from a “strong sell” rating to a “sell” rating in a research note on Monday, July 20th. Wells Fargo & Co lifted their price objective on shares of Bank of New York Mellon from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. UBS Group cut their price objective on shares of Bank of New York Mellon from $56.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Seaport Global Securities assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 8th. They issued a “buy” rating and a $51.00 target price for the company. Finally, Barclays reiterated a “buy” rating and set a $54.00 price target on shares of Bank of New York Mellon in a report on Thursday, April 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.97.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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