Oppenheimer & Co. Inc. Buys 8,435 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Oppenheimer & Co. Inc. lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 32.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,403 shares of the bank’s stock after buying an additional 8,435 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Bank of New York Mellon were worth $2,472,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BK. Stanley Laman Group Ltd. boosted its stake in Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after purchasing an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after buying an additional 142 shares in the last quarter. Sigma Planning Corp raised its position in Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after buying an additional 143 shares during the last quarter. Finally, Grove Bank & Trust lifted its stake in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BK. Morgan Stanley boosted 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 report on Monday, September 30th. Barclays boosted their target price on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped 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 report on Thursday, September 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.23.

Bank of New York Mellon Trading Up 0.9 %

Shares of NYSE:BK opened at $78.29 on Friday. The Bank of New York Mellon Co. has a 12-month low of $46.04 and a 12-month high of $80.29. The company has a market cap of $56.92 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The stock has a 50 day moving average of $73.99 and a 200 day moving average of $65.89. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. Bank of New York Mellon’s payout ratio is presently 40.87%.

Bank of New York Mellon 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.