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

Summit Trail Advisors LLC increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 19.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

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

Bank of New York Mellon Trading Up 0.1 %

Shares of NYSE:BK opened at $81.27 on Wednesday. The stock has a market capitalization of $59.09 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $46.81 and a 1-year high of $81.62. 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 company has a 50 day moving average price of $75.46 and a 200 day moving average price of $67.10.

Bank of New York Mellon (NYSE:BK) last issued its 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 firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors 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 yield of 2.31%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Analyst Upgrades and Downgrades

Several research firms have commented on BK. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased 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 report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.15.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred 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 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 insiders.

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.