EP Wealth Advisors LLC Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

EP Wealth Advisors LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 26.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,937 shares of the bank’s stock after acquiring an additional 1,038 shares during the period. EP Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BK. Wealth Enhancement Advisory Services LLC raised its stake in shares of Bank of New York Mellon by 18.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,127 shares of the bank’s stock worth $3,841,000 after purchasing an additional 10,114 shares during the last quarter. Swedbank AB increased its position in shares of Bank of New York Mellon by 13.2% in the second quarter. Swedbank AB now owns 697,480 shares of the bank’s stock valued at $41,772,000 after buying an additional 81,135 shares in the last quarter. Ellsworth Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $207,000. Blue Trust Inc. boosted its position in shares of Bank of New York Mellon by 86.9% in the 2nd quarter. Blue Trust Inc. now owns 856 shares of the bank’s stock worth $49,000 after buying an additional 398 shares in the last quarter. Finally, Rovin Capital UT ADV grew its stake in Bank of New York Mellon by 6.2% in the 2nd quarter. Rovin Capital UT ADV now owns 6,099 shares of the bank’s stock valued at $365,000 after acquiring an additional 358 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $79.56 on Friday. The business has a 50-day moving average of $77.51 and a two-hundred day moving average of $68.74. The firm has a market capitalization of $57.85 billion, a PE ratio of 17.30, a P/E/G ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $49.73 and a 12 month high of $82.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results 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 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, research analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 2.36%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. Morgan Stanley upgraded shares of Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $82.00 to $94.00 in a research report on Monday. Barclays raised their price target on 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. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted 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 report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $81.00.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was 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.

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.