Wilmington Savings Fund Society FSB Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Wilmington Savings Fund Society FSB raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 340.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,991 shares of the bank's stock after purchasing an additional 21,641 shares during the period. Wilmington Savings Fund Society FSB's holdings in Bank of New York Mellon were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its holdings in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after buying an additional 346 shares during the period. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter worth $32,000. Family Firm Inc. bought a new position in shares of Bank of New York Mellon in the second quarter worth $40,000. Fortitude Family Office LLC grew its position in shares of 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 purchasing an additional 346 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Bank of New York Mellon by 28.8% during the 3rd 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. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of a number of recent analyst reports. Morgan Stanley raised 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 report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price objective on shares of 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. UBS Group increased their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted 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 report on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 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 $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the business's 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 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Price Performance

BK traded down $0.74 during midday trading on Friday, hitting $78.83. The stock had a trading volume of 2,982,509 shares, compared to its average volume of 3,828,686. The Bank of New York Mellon Co. has a 1 year low of $50.87 and a 1 year high of $82.72. The company has a market cap of $57.32 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The business has a fifty day moving average of $77.82 and a 200 day moving average of $68.96. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The company 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 return on equity of 12.06% and a net margin of 9.44%. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.38%. 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.