Smithfield Trust Co Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Smithfield Trust Co increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,786 shares of the bank’s stock after purchasing an additional 2,810 shares during the period. Smithfield Trust Co’s holdings in Bank of New York Mellon were worth $10,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in shares of Bank of New York Mellon by 160,472.7% during the first quarter. Acadian Asset Management LLC now owns 52,989 shares of the bank’s stock worth $3,051,000 after buying an additional 52,956 shares in the last quarter. Covestor Ltd lifted its stake in Bank of New York Mellon by 31.5% in the 1st quarter. Covestor Ltd now owns 1,398 shares of the bank’s stock worth $80,000 after purchasing an additional 335 shares in the last quarter. Bessemer Group Inc. lifted its stake in Bank of New York Mellon by 128.8% in the 1st quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after purchasing an additional 17,312 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $261,000. Finally, Natixis increased its holdings in shares of Bank of New York Mellon by 22.2% in the first quarter. Natixis now owns 77,106 shares of the bank’s stock valued at $4,443,000 after purchasing an additional 14,023 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $77.86 on Thursday. The Bank of New York Mellon Co. has a 52 week low of $46.71 and a 52 week high of $80.29. The firm has a 50 day moving average of $74.60 and a two-hundred day moving average of $66.40. 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 stock has a market capitalization of $56.61 billion, a PE ratio of 16.93, a P/E/G ratio of 0.89 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The company 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, research analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared 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 yield of 2.41%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Barclays lifted their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Morgan Stanley increased their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.23.

Insiders Place Their Bets

In other Bank of New York Mellon news, 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 value 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 represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % 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 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.