By otakuyassine3@gmail.com 
Agate Pass Investment Management LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,650 shares of the bank’s stock, valued at approximately $1,126,000.
A number of other large investors also recently bought and sold shares of BK. McClarren Financial Advisors Inc. raised its stake in 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 acquiring an additional 346 shares during the period. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,000. Fortitude Family Office LLC lifted its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the 3rd 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 period. Finally, Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon during the 3rd quarter worth $46,000. Institutional investors own 85.31% of the company’s stock.
Bank of New York Mellon Price Performance
Shares of BK traded down $0.15 during mid-day trading on Monday, hitting $75.27. The company’s stock had a trading volume of 1,575,723 shares, compared to its average volume of 3,250,192. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50-day moving average price of $78.56 and a 200 day moving average price of $71.71. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $82.72. The stock has a market capitalization of $54.73 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.91 and a beta of 1.08.
Bank of New York Mellon (NYSE:BK – Get Free Report) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analysts’ expectations 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 5.84 EPS for the current fiscal year.
Insider Transactions at Bank of New York Mellon
In other 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 completion of the sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of the business’s 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 $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. 0.14% of the stock is owned by insiders.
Analyst Ratings Changes
BK has been the topic of a number of recent research reports. Barclays raised their target price on Bank of New York Mellon from $86.00 to $102.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup boosted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. UBS Group raised their price target 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. The Goldman Sachs Group boosted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.
Check Out 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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