Fiduciary Family Office LLC Decreases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

by · The Cerbat Gem

Fiduciary Family Office LLC decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 9.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,928 shares of the bank’s stock after selling 2,559 shares during the period. Fiduciary Family Office LLC’s holdings in Bank of New York Mellon were worth $1,791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $30,000. Clearstead Trust LLC purchased a new position in Bank of New York Mellon during the 2nd quarter valued at $32,000. Family Firm Inc. bought a new position in Bank of New York Mellon in the 2nd quarter worth $40,000. Finally, Fortitude Family Office LLC lifted its position 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 period. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on BK shares. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company upped their price objective 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Read Our Latest Stock Report on BK

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 the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction 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 approximately $5,754,079.24. 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. In related news, VP Hanneke Smits sold 16,475 shares of the business’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 completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.96 during trading on Tuesday, reaching $75.96. 365,275 shares of the company traded hands, compared to its average volume of 3,846,618. The stock has a market capitalization of $56.06 billion, a PE ratio of 16.30, a P/E/G ratio of 0.88 and a beta of 1.07. The firm has a 50 day simple moving average of $72.17 and a 200-day simple moving average of $64.71. The Bank of New York Mellon Co. has a 52-week low of $44.32 and a 52-week high of $78.03. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK – Get Free Report) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm 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%. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.78 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 40.87%.

Bank of New York Mellon Profile

(Free Report)

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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