Wedmont Private Capital Buys 493 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Wedmont Private Capital boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 9.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,724 shares of the bank’s stock after purchasing an additional 493 shares during the quarter. Wedmont Private Capital’s holdings in Bank of New York Mellon were worth $415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in Bank of New York Mellon in the second quarter valued at about $30,000. Clearstead Trust LLC acquired a new position in Bank of New York Mellon in the second quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon in the first quarter valued at about $32,000. Able Wealth Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $32,000. Finally, Family Firm Inc. acquired a new position in Bank of New York Mellon in the second quarter valued at about $40,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BK shares. UBS Group boosted their target price on 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. Barclays boosted their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley upped their price objective on 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, The Goldman Sachs Group upped 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. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $72.92.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $74.15 on Friday. The stock has a 50 day moving average price of $68.37 and a 200 day moving average price of $62.42. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $76.15. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $55.45 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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 firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. Analysts predict that The Bank of New York Mellon Co. will post 5.66 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.54%. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the sale, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

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.