Toronto Dominion Bank Has $18.13 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Toronto Dominion Bank lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 36.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,251 shares of the bank's stock after selling 143,169 shares during the quarter. Toronto Dominion Bank's holdings in Bank of New York Mellon were worth $18,127,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BK. McClarren Financial Advisors Inc. raised its holdings 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 worth $29,000 after acquiring an additional 346 shares in the last quarter. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $40,000. Fortitude Family Office LLC grew its stake in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock valued at $44,000 after buying an additional 346 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock worth $46,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on BK. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Barclays boosted their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Evercore ISI increased their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group raised their price objective 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Bank of New York Mellon Stock Performance

BK stock traded down $0.74 on Friday, reaching $78.83. 2,982,503 shares of the company were exchanged, compared to its average volume of 3,828,686. 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 12 month low of $50.87 and a 12 month high of $82.72. The stock's fifty day moving average price is $77.68 and its 200 day moving average price is $68.82. The firm has a market capitalization of $57.32 billion, a PE ratio of 17.30, a PEG ratio of 0.91 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted 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. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.38%. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 157,455 shares of the company's stock, valued at $12,040,583.85. This trade 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 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.