The Bank of New York Mellon Co. (NYSE:BK) Holdings Raised by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 19.9% in the third quarter, Holdings Channel reports. The institutional investor owned 6,039 shares of the bank’s stock after acquiring an additional 1,004 shares during the quarter. Summit Trail Advisors LLC’s holdings in Bank of New York Mellon were worth $434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its position in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. Fortitude Family Office LLC increased its stake in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. UBS Group increased their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their target price 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.15.

Bank of New York Mellon Stock Performance

NYSE BK opened at $81.27 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $59.09 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 0.92 and a beta of 1.07. The company’s fifty day moving average is $75.46 and its two-hundred day moving average is $67.10. The Bank of New York Mellon Co. has a 52-week low of $46.81 and a 52-week high of $81.62.

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 (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion for 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%. Equities 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Bank of New York Mellon Company 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.