The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Huntington National Bank

Huntington National Bank boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.7% in the third quarter, Holdings Channel reports. The fund owned 7,568 shares of the bank’s stock after purchasing an additional 407 shares during the period. Huntington National Bank’s holdings in Bank of New York Mellon were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd lifted its holdings in shares of Bank of New York Mellon by 17.6% during the third quarter. Plato Investment Management Ltd now owns 66,413 shares of the bank’s stock worth $4,768,000 after purchasing an additional 9,947 shares during the period. Oppenheimer & Co. Inc. raised its position in Bank of New York Mellon by 32.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,403 shares of the bank’s stock worth $2,472,000 after buying an additional 8,435 shares during the last quarter. Chase Investment Counsel Corp lifted its stake in shares of Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after acquiring an additional 33,558 shares during the period. Haverford Trust Co purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at about $228,000. Finally, Aptus Capital Advisors LLC increased its stake in shares of Bank of New York Mellon by 4.2% during the third quarter. Aptus Capital Advisors LLC now owns 6,665 shares of the bank’s stock worth $479,000 after acquiring an additional 271 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

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 on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now 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. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BK. Citigroup raised their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group raised their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.23.

Bank of New York Mellon Trading Up 0.9 %

Shares of BK opened at $78.29 on Friday. 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 Bank of New York Mellon Co. has a 1-year low of $46.04 and a 1-year high of $80.29. The stock has a market cap of $56.92 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The firm has a 50 day simple moving average of $73.99 and a 200-day simple moving average of $65.89.

Bank of New York Mellon (NYSE:BK) last released its quarterly 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 company had revenue of $4.65 billion during 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%. Equities analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.40%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

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.