National Bank of Canada FI Acquires 612,287 Shares of The Bank of New York Mellon Co. (NYSE:BK)

National Bank of Canada FI lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 248.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 858,831 shares of the bank's stock after purchasing an additional 612,287 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Bank of New York Mellon worth $61,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BK. McClarren Financial Advisors Inc. increased its stake in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after acquiring an additional 346 shares during the period. Clearstead Trust LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $32,000. Family Firm Inc. acquired a new position in Bank of New York Mellon in the second quarter valued at about $40,000. Fortitude Family Office LLC grew its stake in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after buying an additional 346 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock valued at $46,000 after acquiring an additional 144 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BK shares. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their price objective on shares of 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. Finally, Morgan Stanley upped their target price on shares of 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $79.77.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the company'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 transaction, the executive vice president now directly owns 75,404 shares of the company's stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon 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 in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Down 1.2 %

BK traded down $0.98 during trading on Friday, reaching $80.51. 2,509,660 shares of the company's stock were exchanged, compared to its average volume of 3,167,267. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $58.54 billion, a PE ratio of 17.50, a P/E/G ratio of 0.91 and a beta of 1.07. The company's fifty day moving average price is $76.97 and its 200-day moving average price is $68.36. The Bank of New York Mellon Co. has a fifty-two week low of $47.60 and a fifty-two week high of $82.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data 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. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Monday, October 21st. 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.