Bangor Savings Bank Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Bangor Savings Bank acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,032 shares of the bank’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Neville Rodie & Shaw Inc. boosted its holdings in shares of Bank of New York Mellon by 82.1% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 49,935 shares of the bank’s stock valued at $3,837,000 after acquiring an additional 22,506 shares during the period. CWA Asset Management Group LLC lifted its position in Bank of New York Mellon by 37.4% in the 4th quarter. CWA Asset Management Group LLC now owns 39,011 shares of the bank’s stock valued at $2,997,000 after purchasing an additional 10,620 shares during the last quarter. Nordea Investment Management AB boosted its stake in Bank of New York Mellon by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 62,213 shares of the bank’s stock valued at $4,790,000 after purchasing an additional 3,247 shares during the period. Modus Advisors LLC bought a new position in Bank of New York Mellon in the 4th quarter worth about $49,000. Finally, GAMMA Investing LLC increased its stake in shares of Bank of New York Mellon by 14.2% in the fourth quarter. GAMMA Investing LLC now owns 14,524 shares of the bank’s stock valued at $1,116,000 after purchasing an additional 1,807 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Saturday, December 14th. UBS Group increased their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Citigroup lifted their price objective 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. Evercore ISI raised their target price 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated 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 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 trade represents a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 approximately $12,040,583.85. The trade was a 9.47 % 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 Bank of New York Mellon stock opened at $77.90 on Wednesday. The stock has a market cap of $56.64 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The Bank of New York Mellon Co. has a 12 month low of $52.09 and a 12 month high of $82.72. 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 business has a fifty day simple moving average of $78.46 and a 200-day simple moving average of $71.32.

Bank of New York Mellon (NYSE:BK) last released its 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 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, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.41%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

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.