The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Commerce Bank

Commerce Bank raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,995 shares of the bank’s stock after purchasing an additional 352 shares during the period. Commerce Bank’s holdings in Bank of New York Mellon were worth $2,155,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BK. Segall Bryant & Hamill LLC acquired a new stake in Bank of New York Mellon during the third quarter worth about $1,909,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $3,997,000. Banque Cantonale Vaudoise increased its position in Bank of New York Mellon by 25.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 76,953 shares of the bank’s stock worth $5,530,000 after purchasing an additional 15,460 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Bank of New York Mellon by 50.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 19,372 shares of the bank’s stock valued at $1,392,000 after buying an additional 6,465 shares in the last quarter. Finally, Legacy Bridge LLC grew its stake in Bank of New York Mellon by 730.0% during the third quarter. Legacy Bridge LLC now owns 16,393 shares of the bank’s stock worth $1,178,000 after buying an additional 14,418 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BK. JPMorgan Chase & Co. raised their target price on shares of 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. Citigroup boosted their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Barclays increased their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.23.

Bank of New York Mellon Price Performance

BK opened at $80.14 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a 1-year low of $46.81 and a 1-year high of $80.29. The company has a 50-day moving average of $75.03 and a 200-day moving average of $66.71. The company has a market capitalization of $58.27 billion, a P/E ratio of 17.42, a PEG ratio of 0.90 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for 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%. Equities analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Insider Buying and Selling 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 completion of the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $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 owned by insiders.

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.