Private Trust Co. NA Increases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Private Trust Co. NA raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,205 shares of the bank’s stock after purchasing an additional 307 shares during the quarter. Private Trust Co. NA’s holdings in Bank of New York Mellon were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. B. Riley Wealth Advisors Inc. grew its position in shares of Bank of New York Mellon by 13.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank’s stock valued at $861,000 after purchasing an additional 1,803 shares in the last quarter. Tidal Investments LLC increased its position in shares of Bank of New York Mellon by 20.6% during the first quarter. Tidal Investments LLC now owns 24,671 shares of the bank’s stock valued at $1,421,000 after buying an additional 4,210 shares during the period. Hancock Whitney Corp lifted its holdings in shares of Bank of New York Mellon by 3.9% in the first quarter. Hancock Whitney Corp now owns 15,373 shares of the bank’s stock worth $886,000 after buying an additional 576 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Bank of New York Mellon by 15.5% during the first quarter. Citizens Financial Group Inc. RI now owns 40,980 shares of the bank’s stock valued at $2,361,000 after acquiring an additional 5,505 shares in the last quarter. Finally, Swedbank AB bought a new stake in Bank of New York Mellon during the 1st quarter worth approximately $35,514,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

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

Bank of New York Mellon Price Performance

BK stock opened at $81.75 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $59.44 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07. The firm’s fifty day moving average is $75.67 and its 200 day moving average is $67.20. The Bank of New York Mellon Co. has a 52 week low of $46.81 and a 52 week high of $82.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Research analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Analysts Set New Price Targets

Several research analysts have commented on BK shares. Morgan Stanley raised their price target 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. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays raised their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Evercore ISI raised their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.15.

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.