The Bank of New York Mellon Co. (NYSE:BK) Position Lowered by BNP Paribas

BNP Paribas decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 43.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 850 shares of the bank’s stock after selling 640 shares during the period. BNP Paribas’ holdings in Bank of New York Mellon were worth $61,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. McClarren Financial Advisors Inc. lifted its holdings in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new position in Bank of New York Mellon in the second quarter worth about $30,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon in the second quarter worth about $32,000. Family Firm Inc. bought a new position in Bank of New York Mellon in the second quarter worth about $40,000. Finally, Fortitude Family Office LLC lifted its holdings in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.6 %

Bank of New York Mellon stock opened at $81.75 on Thursday. The company has a 50 day moving average price of $75.67 and a 200 day moving average price of $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. 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 capitalization of $59.44 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07.

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

Bank of New York Mellon Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is 40.87%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their price target on shares of 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. UBS Group raised their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.15.

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.