Whitener Capital Management Inc. Decreases Position in The Bank of New York Mellon Co. (NYSE:BK)

Whitener Capital Management Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,430 shares of the bank’s stock after selling 660 shares during the period. Whitener Capital Management Inc.’s holdings in Bank of New York Mellon were worth $965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its holdings 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 valued at $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $40,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was 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 of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value 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 represents a 0.00 % 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 corporate insiders.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. 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 research note on Monday, October 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Royal Bank of Canada reiterated 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, JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.69.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $75.31 on Friday. The Bank of New York Mellon Co. has a 52 week low of $43.46 and a 52 week high of $78.03. The company has a 50-day moving average price of $72.01 and a 200 day moving average price of $64.50. The company has a market cap of $55.58 billion, a P/E ratio of 16.37, a PEG ratio of 0.89 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon Dividend Announcement

The firm also recently declared 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 dividend yield of 2.50%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.