The Bank of New York Mellon Co. (NYSE:BK) Short Interest Down 39.2% in September

The Bank of New York Mellon Co. (NYSE:BK) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 8,730,000 shares, a decrease of 39.2% from the September 15th total of 14,350,000 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 4,140,000 shares, the days-to-cover ratio is currently 2.1 days.

Insider Activity

In other news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

Several institutional investors have recently bought and sold shares of BK. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at about $30,000. Clearstead Trust LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $32,000. Able Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $32,000. Finally, Grove Bank & Trust lifted its position in Bank of New York Mellon by 28.8% during the third 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. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 0.4 %

Shares of NYSE:BK opened at $74.15 on Monday. The company has a market capitalization of $55.45 billion, a PE ratio of 17.16, a PEG ratio of 1.16 and a beta of 1.08. Bank of New York Mellon has a 12-month low of $39.66 and a 12-month high of $76.15. The business has a 50 day moving average of $68.37 and a two-hundred day moving average of $62.46. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. As a group, analysts forecast that Bank of New York Mellon will post 5.66 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on BK shares. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. The Goldman Sachs Group increased their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, Evercore ISI lifted their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.92.

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.