Park National Corp OH Sells 933 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Park National Corp OH trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,921 shares of the bank’s stock after selling 933 shares during the period. Park National Corp OH’s holdings in Bank of New York Mellon were worth $1,223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Bangor Savings Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $233,000. Neville Rodie & Shaw Inc. boosted its position in Bank of New York Mellon by 82.1% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 49,935 shares of the bank’s stock worth $3,837,000 after purchasing an additional 22,506 shares during the last quarter. CWA Asset Management Group LLC grew its stake 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 period. Nordea Investment Management AB increased its position in shares of 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 last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BK shares. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Evercore ISI increased 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 report on Monday, October 14th. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, 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 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 sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction 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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents 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.

Bank of New York Mellon Price Performance

BK stock opened at $77.88 on Thursday. The firm has a 50 day moving average of $78.50 and a 200-day moving average of $71.37. The firm has a market capitalization of $56.62 billion, a P/E 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 $52.21 and a 12 month high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.41%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Bank of New York Mellon Company 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.