Modus Advisors LLC Acquires New Stake in The Bank of New York Mellon Co. (NYSE:BK)

On January 4, 2025, it was reported that Modus Advisors LLC has acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter of 2024. According to the disclosure made to the Securities and Exchange Commission, Modus Advisors purchased 634 shares of the bank's stock, with a total value close to $49,000.

Several other institutional investors have also adjusted their positions in The Bank of New York Mellon. Farther Finance Advisors LLC increased its stake in the bank by 19.6% in the second quarter, now holding 3,974 shares valued at approximately $239,000 after buying an additional 650 shares. Founders Financial Securities LLC raised its holdings by 11.8%, acquiring a total of 7,862 shares worth $471,000 after purchasing 830 more shares. Simon Quick Advisors LLC expanded its investment by 6.0%, now owning 4,683 shares valued at $280,000 with an additional 265 shares bought in the last quarter. Foundations Investment Advisors LLC upped its stake by 3.1%, having 8,393 shares worth $503,000, and Larson Financial Group LLC increased its position by 16.6%, holding a total of 1,935 shares valued at $116,000 after acquiring 276 shares.
Overall, institutional investors and hedge funds own 85.31% of The Bank of New York Mellon's stock.

Recent Insider Transactions

In recent developments concerning insider trades at The Bank of New York Mellon, Vice President Hanneke Smits sold 16,475 shares on October 15, earning approximately $1,259,843.25 with an average share price of $76.47. Following this sale, she owns about 157,455 shares valued at around $12,040,583.85, marking a 9.47% decline in her ownership. Additionally, Executive Vice President J. Kevin McCarthy sold 25,000 shares for about $1,907,750.00, with an average price of $76.31. Post-sale, McCarthy owns 75,404 shares, valued at approximately $5,754,079.24, representing a 24.90% decrease in his stake.

Analyst Ratings and Price Targets

Various equity research analysts have issued reports that may interest investors. The UBS Group raised its price target for The Bank of New York Mellon's shares from $73.00 to $82.00, rating it as a "buy." Keefe, Bruyette & Woods increased their target from $87.00 to $96.00 with an "outperform" rating. Deutsche Bank followed suit, raising its target from $82.00 to $85.00 and also issuing a "buy" rating. Wells Fargo & Company adjusted their price target from $81.00 to $82.00 with an "equal weight" rating. Evercore ISI increased their target from $66.00 to $77.00, giving it an "in-line" rating. Currently, five analysts rate the stock as a hold, while ten recommend buying, leading to a consensus rating of "Moderate Buy" and a price target of $80.77 according to MarketBeat data.

The Bank of New York Mellon: Current Stock Overview

As of the last trading session, shares of The Bank of New York Mellon opened at $76.93. The company has a market capitalization of $55.93 billion and a debt-to-equity ratio of 0.89. Its 50-day moving average stands at $78.38, while the 200-day moving average is $70.75. Over the past year, the stock has had a low of $51.86 and a high of $82.72. The last quarterly earnings report, released on October 11, showed earnings per share (EPS) at $1.52, exceeding analysts’ expectations of $1.41, with net revenue reported at $4.65 billion.

Dividend Declaration

The Bank of New York Mellon recently declared a quarterly dividend of $0.47 per share, which was paid to shareholders on November 1. Those on record as of October 21 received a total annualized dividend of $1.88, translating to a yield of 2.44%. The payout ratio currently stands at 40.87%.

Company Overview

The Bank of New York Mellon Corporation provides a range of financial services and products globally, operating in multiple segments including Securities Services, Market and Wealth Services, and Investment and Wealth Management.

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