Sequoia Financial Advisors LLC Increases Position in The Bank of New York Mellon Co. (NYSE:BK)

Sequoia Financial Advisors LLC lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 186.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,613 shares of the bank’s stock after buying an additional 32,914 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Bank of New York Mellon were worth $3,637,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Bank of New York Mellon by 4.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after purchasing an additional 165 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in Bank of New York Mellon by 3.8% in the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after buying an additional 171 shares during the last quarter. Mezzasalma Advisors LLC boosted its stake in Bank of New York Mellon by 4.2% during the third quarter. Mezzasalma Advisors LLC now owns 4,480 shares of the bank’s stock worth $322,000 after buying an additional 181 shares during the period. Finally, 1858 Wealth Management LLC increased its position in Bank of New York Mellon by 4.0% during the second quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock valued at $291,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK opened at $76.37 on Thursday. The firm has a 50 day moving average of $70.55 and a two-hundred day moving average of $63.51. The firm has a market capitalization of $57.11 billion, a PE ratio of 17.68, a P/E/G ratio of 1.16 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12-month low of $41.28 and a 12-month high of $78.03.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.46%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Analysts Set New Price Targets

BK has been the topic of several analyst reports. UBS Group upped 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 report on Tuesday, October 8th. Evercore ISI increased their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” 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 increased their price target for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. Morgan Stanley lifted 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 research report on Monday, September 30th. Finally, Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Bank of New York Mellon news, 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 value of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’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 value of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate 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.