The Bank of New York Mellon Co. (NYSE:BK) Short Interest Update

The Bank of New York Mellon Co. (NYSE:BK) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 9,400,000 shares, a growth of 16.9% from the October 31st total of 8,040,000 shares. Based on an average daily trading volume, of 3,910,000 shares, the short-interest ratio is presently 2.4 days. Currently, 1.3% of the shares of the stock are sold short.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the business’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 directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This represents 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 currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Bank of New York Mellon by 20.6% in the first quarter. Tidal Investments LLC now owns 24,671 shares of the bank’s stock valued at $1,421,000 after purchasing an additional 4,210 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Bank of New York Mellon by 223.1% during the 1st quarter. Cetera Investment Advisers now owns 286,046 shares of the bank’s stock worth $16,482,000 after acquiring an additional 197,515 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Bank of New York Mellon by 551.4% during the 1st quarter. Cetera Advisors LLC now owns 64,274 shares of the bank’s stock worth $3,703,000 after acquiring an additional 54,407 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Bank of New York Mellon by 74.9% in the second quarter. GAMMA Investing LLC now owns 9,177 shares of the bank’s stock worth $550,000 after purchasing an additional 3,930 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Bank of New York Mellon by 43.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,619 shares of the bank’s stock worth $157,000 after purchasing an additional 796 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the topic of several research reports. JPMorgan Chase & Co. upped 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 research note on Monday, October 7th. Barclays increased their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed 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. Finally, Evercore ISI boosted their price target on 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.15.

Bank of New York Mellon Price Performance

NYSE:BK traded up $0.13 during mid-day trading on Friday, reaching $81.87. 2,180,286 shares of the company were exchanged, compared to its average volume of 3,438,468. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average of $76.07 and a 200 day moving average of $67.53. Bank of New York Mellon has a 12 month low of $47.44 and a 12 month high of $82.72. The stock has a market cap of $59.53 billion, a PE ratio of 17.80, a PEG ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. On average, research analysts anticipate that Bank of New York Mellon will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend 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.