3,172 Shares in The Bank of New York Mellon Co. (NYSE:BK) Acquired by Haverford Trust Co

Haverford Trust Co acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,172 shares of the bank’s stock, valued at approximately $228,000.

Other institutional investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC increased its stake in shares of Bank of New York Mellon by 4.2% in the third quarter. Aptus Capital Advisors LLC now owns 6,665 shares of the bank’s stock valued at $479,000 after buying an additional 271 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Bank of New York Mellon by 4.7% in the third quarter. Apollon Wealth Management LLC now owns 18,868 shares of the bank’s stock valued at $1,356,000 after purchasing an additional 840 shares in the last quarter. Keystone Financial Services raised its position in shares of Bank of New York Mellon by 4.8% during the third quarter. Keystone Financial Services now owns 11,161 shares of the bank’s stock worth $802,000 after acquiring an additional 507 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in Bank of New York Mellon by 17.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 10,175 shares of the bank’s stock worth $731,000 after purchasing an additional 1,524 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Bank of New York Mellon by 21.5% in the third quarter. Venturi Wealth Management LLC now owns 1,147 shares of the bank’s stock valued at $82,000 after buying an additional 203 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon 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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a document filed 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 on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

BK opened at $77.58 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 business’s 50-day simple moving average is $73.56 and its 200 day simple moving average is $65.66. The firm has a market capitalization of $56.41 billion, a PE ratio of 16.87, a PEG ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a 52-week low of $46.04 and a 52-week high of $80.29.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. 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. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price 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. Citigroup lifted their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.08.

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.