M&T Bank Corp Increases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

M&T Bank Corp lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 293.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 399,130 shares of the bank's stock after acquiring an additional 297,603 shares during the period. M&T Bank Corp owned 0.05% of Bank of New York Mellon worth $28,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BK. Continuum Advisory LLC grew its stake in Bank of New York Mellon by 93.2% during the 3rd quarter. Continuum Advisory LLC now owns 2,349 shares of the bank's stock worth $182,000 after buying an additional 1,133 shares during the last quarter. Drucker Wealth 3.0 LLC grew its stake in Bank of New York Mellon by 3.8% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 10,838 shares of the bank's stock worth $779,000 after buying an additional 396 shares during the last quarter. SGL Investment Advisors Inc. purchased a new position in Bank of New York Mellon during the 3rd quarter worth approximately $777,000. Nomura Asset Management Co. Ltd. grew its stake in Bank of New York Mellon by 3.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,644 shares of the bank's stock worth $16,358,000 after buying an additional 7,840 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in Bank of New York Mellon by 2.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 39,868 shares of the bank's stock worth $2,865,000 after buying an additional 879 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group lifted 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. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. The Goldman Sachs Group lifted 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 note on Thursday, September 26th. Finally, Morgan Stanley upgraded Bank of New York Mellon from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $82.00 to $94.00 in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.94 during mid-day trading on Wednesday, hitting $79.68. The company's stock had a trading volume of 4,816,969 shares, compared to its average volume of 3,829,547. The firm has a 50-day simple moving average of $77.33 and a 200 day simple moving average of $68.67. The firm has a market capitalization of $57.93 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $49.48 and a 1-year high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal 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 issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.36%. Bank of New York Mellon's dividend payout ratio is presently 40.87%.

Insider Buying and Selling

In other news, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was 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 directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This 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.

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.