Modus Advisors LLC Buys New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Modus Advisors LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 634 shares of the bank’s stock, valued at approximately $49,000.

A number of other large investors have also made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Bank of New York Mellon by 19.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,974 shares of the bank’s stock worth $239,000 after purchasing an additional 650 shares during the period. Founders Financial Securities LLC grew its holdings in Bank of New York Mellon by 11.8% during the second quarter. Founders Financial Securities LLC now owns 7,862 shares of the bank’s stock worth $471,000 after acquiring an additional 830 shares during the period. Simon Quick Advisors LLC raised its position in Bank of New York Mellon by 6.0% during the second quarter. Simon Quick Advisors LLC now owns 4,683 shares of the bank’s stock valued at $280,000 after acquiring an additional 265 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Bank of New York Mellon by 3.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 8,393 shares of the bank’s stock valued at $503,000 after purchasing an additional 251 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of Bank of New York Mellon by 16.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,935 shares of the bank’s stock worth $116,000 after acquiring an additional 276 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 the company’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 transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’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 completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at $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. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted 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 research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their price target 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. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Evercore ISI upped their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.77.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE BK opened at $76.93 on Friday. The business has a 50-day moving average of $78.38 and a two-hundred day moving average of $70.75. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The Bank of New York Mellon Co. has a 1 year low of $51.86 and a 1 year high of $82.72.

Bank of New York Mellon (NYSE:BK) last released its quarterly 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 firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.44%. Bank of New York Mellon’s payout ratio is currently 40.87%.

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.