Hara Capital LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,118 shares of the bank’s stock, valued at approximately $152,000.
Other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. boosted its stake in shares of 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 bought a new position in Bank of New York Mellon during the second quarter worth $30,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon during the second quarter worth $32,000. Family Firm Inc. acquired a new position in shares of Bank of New York Mellon in the second quarter valued at $40,000. Finally, Fortitude Family Office LLC raised its position in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.
Bank of New York Mellon Price Performance
Shares of NYSE BK traded down $0.45 during mid-day trading on Thursday, reaching $77.75. The company had a trading volume of 736,612 shares, compared to its average volume of 3,853,574. The Bank of New York Mellon Co. has a one year low of $44.32 and a one year high of $80.29. The business’s 50-day simple moving average is $72.56 and its 200 day simple moving average is $64.94. 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 firm has a market cap of $57.38 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 0.88 and a beta of 1.07.
Bank of New York Mellon Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 annualized dividend and a dividend yield of 2.42%. Bank of New York Mellon’s payout ratio is 40.87%.
Insider Transactions at Bank of New York Mellon
In other 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 value 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 approximately $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on 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 directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. 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 insiders.
Wall Street Analyst Weigh In
Several analysts recently commented on BK shares. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” 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 stock an “in-line” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $76.69.
Get Our Latest Stock Analysis on BK
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.
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