The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Decreased by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 5,449 shares of the bank’s stock after selling 336 shares during the period. Clear Creek Financial Management LLC’s holdings in Bank of New York Mellon were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the period. Olistico Wealth LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter valued at $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon in the second quarter worth about $32,000. Family Firm Inc. acquired a new position in Bank of New York Mellon in the 2nd quarter worth approximately $40,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on 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. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Evercore ISI boosted their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company raised 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. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.69.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was 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 company insiders.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $75.00 on Tuesday. The firm has a market capitalization of $55.35 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $44.32 and a 12 month high of $78.03. The business’s 50-day moving average price is $72.17 and its 200-day moving average price is $64.71. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

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.