The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 21.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 639 shares of the bank’s stock after selling 179 shares during the period. Mendota Financial Group LLC’s holdings in Bank of New York Mellon were worth $46,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $30,000. Able Wealth Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon during the first quarter worth $32,000. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $32,000. Finally, Family Firm Inc. acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.4 %

Bank of New York Mellon stock opened at $74.15 on Friday. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $76.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $54.72 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The firm has a 50 day simple moving average of $68.37 and a 200-day simple moving average of $62.38.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 5.66 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BK shares. Barclays increased their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. The Goldman Sachs Group raised their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. UBS Group upped their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley raised their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.92.

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.