Dynamic Technology Lab Private Ltd Increases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Dynamic Technology Lab Private Ltd boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 325.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,275 shares of the bank’s stock after buying an additional 13,982 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Bank of New York Mellon were worth $1,313,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. McClarren Financial Advisors Inc. boosted its stake in shares of 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 during the last quarter. Olistico Wealth LLC purchased a new position in Bank of New York Mellon in the second quarter worth $30,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon in the 2nd quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $40,000. Finally, Fortitude Family Office LLC raised 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 period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

NYSE:BK opened at $81.27 on Wednesday. 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 has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average of $75.46 and a 200 day moving average of $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 issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the company’s 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 directly 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 disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BK shares. The Goldman Sachs Group increased 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 report on Thursday, September 26th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Morgan Stanley upped their price objective 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. UBS Group raised their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.15.

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.