Huntington National Bank Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Huntington National Bank grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,568 shares of the bank’s stock after purchasing an additional 407 shares during the quarter. Huntington National Bank’s holdings in Bank of New York Mellon were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of BK. Marshall Wace LLP boosted its stake in Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after purchasing an additional 1,311,969 shares during the period. Panagora Asset Management Inc. boosted its position in Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after acquiring an additional 1,020,906 shares in the last quarter. Swedbank AB purchased a new position in Bank of New York Mellon in the first quarter valued at about $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Bank of New York Mellon by 89.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after acquiring an additional 574,319 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Bank of New York Mellon by 69.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank’s stock worth $80,529,000 after purchasing an additional 574,185 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BK. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Evercore ISI lifted 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 note on Monday, October 14th. UBS Group boosted their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, 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 report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.23.

Bank of New York Mellon Price Performance

Shares of BK opened at $78.29 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $73.99 and its 200-day simple moving average is $65.89. The firm has a market capitalization of $56.92 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.89 and a beta of 1.07. The Bank of New York Mellon Co. has a twelve month low of $46.04 and a twelve month high of $80.29.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Equities analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. Bank of New York Mellon’s payout ratio is currently 40.87%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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.