Bank of Montreal Can Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Bank of Montreal Can boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 83.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,323,755 shares of the bank's stock after buying an additional 603,191 shares during the quarter. Bank of Montreal Can owned approximately 0.18% of Bank of New York Mellon worth $94,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its holdings in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after acquiring an additional 346 shares during the period. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. Family Firm Inc. purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at about $40,000. Finally, Fortitude Family Office LLC lifted its position in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock valued at $44,000 after buying an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Citigroup lifted their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday, November 11th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a research note on Monday, October 14th. Finally, Barclays raised their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.15.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $0.48 during trading hours on Wednesday, reaching $81.75. 2,823,686 shares of the company's stock were exchanged, compared to its average volume of 3,844,544. 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 firm has a market capitalization of $59.44 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $46.81 and a 1-year high of $82.08. The company has a 50-day moving average of $75.67 and a 200 day moving average of $67.20.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The business 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%. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.87%.

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.