Erste Asset Management GmbH Invests $7.52 Million in The Bank of New York Mellon Co. (NYSE:BK)

Erste Asset Management GmbH acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 104,841 shares of the bank’s stock, valued at approximately $7,518,000.

A number of other institutional investors have also recently bought and sold shares of the company. Ironwood Investment Counsel LLC purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $229,000. Rockefeller Capital Management L.P. increased its holdings in Bank of New York Mellon by 0.9% in the third quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after buying an additional 250 shares during the last quarter. Financial Counselors Inc. bought a new position in Bank of New York Mellon during the third quarter valued at approximately $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bank of New York Mellon by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after acquiring an additional 117,974 shares during the last quarter. Finally, Fiduciary Trust Co grew its position in Bank of New York Mellon by 2.7% in the third quarter. Fiduciary Trust Co now owns 12,967 shares of the bank’s stock worth $932,000 after acquiring an additional 343 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BK shares. 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 report on Monday, November 11th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Morgan Stanley upped their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. UBS Group raised their price objective on 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. Finally, The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

Bank of New York Mellon Trading Up 0.2 %

Shares of Bank of New York Mellon stock opened at $81.87 on Monday. The company has a market cap of $59.53 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 1 year low of $47.44 and a 1 year high of $82.72. The company’s fifty day simple moving average is $76.07 and its 200-day simple moving average is $67.59. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) 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 analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.84 EPS 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. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.30%. Bank of New York Mellon’s dividend payout ratio is 40.87%.

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.