Van ECK Associates Corp Sells 19,639 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Van ECK Associates Corp cut its position in The Bank of New York Mellon Co. (NYSE:BK) by 13.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,258 shares of the bank’s stock after selling 19,639 shares during the quarter. Van ECK Associates Corp’s holdings in Bank of New York Mellon were worth $9,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Confluence Wealth Services Inc. boosted its position in shares of Bank of New York Mellon by 19.4% in the third quarter. Confluence Wealth Services Inc. now owns 15,273 shares of the bank’s stock valued at $1,097,000 after acquiring an additional 2,478 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Bank of New York Mellon by 14.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 127,748 shares of the bank’s stock valued at $9,180,000 after purchasing an additional 16,041 shares during the period. Optas LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $218,000. Farther Finance Advisors LLC increased its holdings in shares of Bank of New York Mellon by 21.9% during the third quarter. Farther Finance Advisors LLC now owns 4,846 shares of the bank’s stock worth $348,000 after purchasing an additional 872 shares during the period. Finally, Stephens Inc. AR raised its position in shares of Bank of New York Mellon by 5.8% in the third quarter. Stephens Inc. AR now owns 69,691 shares of the bank’s stock valued at $5,008,000 after buying an additional 3,791 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on 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 completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated 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 completion of the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $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. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $78.22 on Thursday. 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 fifty-two week low of $44.32 and a fifty-two week high of $80.29. The firm has a market cap of $57.72 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.88 and a beta of 1.07. The business’s 50 day moving average price is $72.56 and its 200-day moving average price is $64.94.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The company 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%. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.78 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.40%. Bank of New York Mellon’s payout ratio is presently 40.87%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BK. JPMorgan Chase & Co. upped their target price on 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. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Barclays upped their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.69.

Bank of New York Mellon Company 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.