Tompkins Financial Corp Has $231,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Tompkins Financial Corp raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,214 shares of the bank’s stock after acquiring an additional 224 shares during the period. Tompkins Financial Corp’s holdings in Bank of New York Mellon were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. McClarren Financial Advisors Inc. boosted its position in Bank of New York Mellon by 586.4% during 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 purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

BK has been the subject of several research reports. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the company from $66.00 to $80.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Barclays boosted their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded down $0.63 during mid-day trading on Friday, reaching $77.06. The company had a trading volume of 3,176,365 shares, compared to its average volume of 3,864,255. 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 firm has a market cap of $56.03 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.88 and a beta of 1.07. The company has a 50 day moving average of $72.95 and a 200-day moving average of $65.17. The Bank of New York Mellon Co. has a 52 week low of $44.93 and a 52 week high of $80.29.

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 business 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 return on equity of 12.06% and a net margin of 9.44%. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.79 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.44%. 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.