BNP Paribas Has $61,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

BNP Paribas lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 43.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 850 shares of the bank’s stock after selling 640 shares during the period. BNP Paribas’ holdings in Bank of New York Mellon were worth $61,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. raised its holdings in 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 acquiring an additional 346 shares during the period. Olistico Wealth LLC bought a new position in Bank of New York Mellon in the 2nd quarter worth $30,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon in the 2nd quarter worth $32,000. Family Firm Inc. bought a new position in Bank of New York Mellon in the 2nd quarter worth $40,000. Finally, Fortitude Family Office LLC raised its holdings in 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 worth $44,000 after acquiring an additional 346 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the 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 completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $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 owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on BK. Evercore ISI boosted their price objective 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. The Goldman Sachs Group boosted their price objective on shares of 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. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their target price 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. Finally, Citigroup lifted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.15.

Bank of New York Mellon Price Performance

NYSE:BK opened at $81.75 on Thursday. The firm has a market cap of $59.44 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $46.81 and a 12 month high of $82.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $75.67 and its two-hundred day moving average price is $67.20.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, equities 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 announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.30%. Bank of New York Mellon’s payout ratio is 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.