The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 30.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 250,187 shares of the bank's stock after selling 110,043 shares during the quarter. Stifel Financial Corp's holdings in Bank of New York Mellon were worth $17,979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after buying an additional 346 shares during the period. Clearstead Trust LLC purchased a new position in Bank of New York Mellon during the 2nd quarter valued at $32,000. Fortitude Family Office LLC increased its stake 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 worth $44,000 after purchasing an additional 346 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon during the third quarter worth $46,000. Finally, Grove Bank & Trust boosted its stake in shares of Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock valued at $46,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Ratings Changes

BK has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of 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. Morgan Stanley raised Bank of New York Mellon from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $82.00 to $94.00 in a research note on Monday. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $81.00.

Bank of New York Mellon Stock Up 0.0 %

NYSE BK traded up $0.01 on Tuesday, hitting $80.62. The stock had a trading volume of 3,600,743 shares, compared to its average volume of 3,820,866. The business's fifty day moving average price is $77.14 and its 200 day moving average price is $68.52. The stock has a market cap of $58.62 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 52-week low of $49.15 and a 52-week high of $82.72.

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. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's payout ratio is currently 40.87%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 completion of the sale, the vice president now owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value 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. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

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.