Nwam LLC Takes $245,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Nwam LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 3rd quarter, Holdings Channel reports. The fund bought 3,414 shares of the bank’s stock, valued at approximately $245,000.

A number of other hedge funds have also added to or reduced their stakes in BK. Studio Investment Management LLC grew its position in shares of Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares during the period. CFS Investment Advisory Services LLC acquired a new stake in Bank of New York Mellon in the third quarter worth $221,000. Raymond James Trust N.A. grew its holdings in Bank of New York Mellon by 0.3% in the third quarter. Raymond James Trust N.A. now owns 218,016 shares of the bank’s stock worth $15,667,000 after purchasing an additional 700 shares during the period. Eagle Asset Management Inc. raised its holdings in shares of Bank of New York Mellon by 2.7% during the third quarter. Eagle Asset Management Inc. now owns 138,153 shares of the bank’s stock valued at $10,646,000 after purchasing an additional 3,651 shares during the period. Finally, Smithfield Trust Co raised its holdings in shares of Bank of New York Mellon by 1.9% during the third quarter. Smithfield Trust Co now owns 147,786 shares of the bank’s stock valued at $10,619,000 after purchasing an additional 2,810 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group boosted their target price on 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Citigroup boosted their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $78.15.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was 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 owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction 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 transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 1.3 %

Shares of BK stock opened at $81.22 on Tuesday. The Bank of New York Mellon Co. has a 52-week low of $46.81 and a 52-week high of $81.62. The company has a 50-day simple moving average of $75.25 and a two-hundred day simple moving average of $66.94. 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 company has a market capitalization of $59.05 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates 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. Research analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) 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.