Hancock Whitney Corp Acquires 135,012 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Hancock Whitney Corp boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 891.5% during the third quarter, Holdings Channel reports. The fund owned 150,156 shares of the bank’s stock after purchasing an additional 135,012 shares during the period. Hancock Whitney Corp’s holdings in Bank of New York Mellon were worth $10,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BK. Marshall Wace LLP grew its stake in Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after buying an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Bank of New York Mellon by 6,040.9% during the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after acquiring an additional 1,020,906 shares during the period. Swedbank AB acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Bank of New York Mellon by 89.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after purchasing an additional 574,319 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Bank of New York Mellon by 440.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 645,811 shares of the bank’s stock worth $38,678,000 after purchasing an additional 526,249 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BK. 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 report on Monday, October 14th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Evercore ISI increased their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group increased their target price 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. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.23.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the business’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 transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 sale, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 9.47 % 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 company insiders.

Bank of New York Mellon Trading Up 0.6 %

NYSE BK opened at $80.62 on Monday. The Bank of New York Mellon Co. has a twelve month low of $46.81 and a twelve month high of $80.62. The business’s fifty day moving average is $75.03 and its 200 day moving average is $66.77. 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 market cap of $58.62 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (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 the consensus estimate of $4.52 billion. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Bank of New York Mellon 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.