The Bank of New York Mellon Co. (NYSE:BK) VP Hanneke Smits Sells 16,475 Shares

The Bank of New York Mellon Co. (NYSE:BK) VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated 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 directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $77.74 on Friday. The stock has a market capitalization of $58.14 billion, a P/E ratio of 18.00, a PEG ratio of 1.16 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average price is $69.55 and its 200 day moving average price is $62.93. The Bank of New York Mellon Co. has a twelve month low of $41.15 and a twelve month high of $78.03.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 43.52%.

Institutional Trading of Bank of New York Mellon

A number of institutional investors and hedge funds have recently bought and sold shares of BK. Grove Bank & Trust grew its stake in Bank of New York Mellon by 28.8% during 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 period. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Bank of New York Mellon by 4.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after acquiring an additional 165 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Bank of New York Mellon by 3.8% during the 2nd quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after purchasing an additional 171 shares during the period. Mezzasalma Advisors LLC boosted its position in Bank of New York Mellon by 4.2% during the 3rd quarter. Mezzasalma Advisors LLC now owns 4,480 shares of the bank’s stock worth $322,000 after purchasing an additional 181 shares during the period. Finally, Greenleaf Trust raised its position in Bank of New York Mellon by 0.7% in the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BK shares. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Wells Fargo & Company raised their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup boosted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. UBS Group upped their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $76.69.

About Bank of New York Mellon

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.