Farther Finance Advisors LLC Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Farther Finance Advisors LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 21.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,846 shares of the bank’s stock after purchasing an additional 872 shares during the period. Farther Finance Advisors LLC’s holdings in Bank of New York Mellon were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BK. McClarren Financial Advisors Inc. grew its position in 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 buying an additional 346 shares during the period. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $30,000. Clearstead Trust LLC acquired a new position in Bank of New York Mellon during the second quarter worth $32,000. Fortitude Family Office LLC boosted its position in Bank of New York Mellon by 130.6% during 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 in the last quarter. Finally, Grove Bank & Trust grew 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 valued at $46,000 after purchasing an additional 144 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the business’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 transaction of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of 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. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Stock Down 0.7 %

Shares of BK opened at $77.68 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market cap of $56.48 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. The company’s fifty day moving average is $72.56 and its two-hundred day moving average is $64.94. The Bank of New York Mellon Co. has a fifty-two week low of $44.32 and a fifty-two week high of $80.29.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Analysts forecast that The Bank of New York Mellon Co. will post 5.79 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

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.