Borer Denton & Associates Inc. Acquires 7,610 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Borer Denton & Associates Inc. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 40.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 26,620 shares of the bank’s stock after acquiring an additional 7,610 shares during the period. Borer Denton & Associates Inc.’s holdings in Bank of New York Mellon were worth $1,913,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BK. United Advisor Group LLC acquired a new stake in Bank of New York Mellon during the third quarter valued at approximately $595,000. Principal Financial Group Inc. boosted its stake in Bank of New York Mellon by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after buying an additional 14,916 shares in the last quarter. Ameriprise Financial Inc. grew its position in Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after acquiring an additional 421,161 shares during the period. Chase Investment Counsel Corp grew its position in Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after acquiring an additional 33,558 shares during the period. Finally, Williams Financial LLC acquired a new position in Bank of New York Mellon during the second quarter worth $587,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Citigroup upped their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. UBS Group raised their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Evercore ISI raised 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 report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.23.

Bank of New York Mellon Stock Up 1.6 %

NYSE BK opened at $80.14 on Friday. The stock has a market capitalization of $58.27 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a 52 week low of $46.81 and a 52 week high of $80.29. 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 stock has a fifty day moving average of $75.03 and a 200-day moving average of $66.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the company’s 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. 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 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.