Shayne & Jacobs LLC Purchases 17,347 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Shayne & Jacobs LLC grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 38.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,591 shares of the bank’s stock after acquiring an additional 17,347 shares during the quarter. Bank of New York Mellon accounts for approximately 0.9% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 15th largest position. Shayne & Jacobs LLC’s holdings in Bank of New York Mellon were worth $2,670,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BK. Acadian Asset Management LLC lifted its holdings in shares of Bank of New York Mellon by 160.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after purchasing an additional 3,297 shares in the last quarter. Prudential PLC bought a new position in Bank of New York Mellon during the 1st quarter valued at $1,096,000. Cetera Investment Advisers lifted its stake in Bank of New York Mellon by 3.3% during the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,154 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Bank of New York Mellon by 54.3% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after purchasing an additional 81,728 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Bank of New York Mellon by 165.3% during the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after purchasing an additional 909 shares during the last quarter. Institutional investors and hedge funds own 81.29% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK traded down $0.04 during trading hours on Tuesday, hitting $54.97. The company had a trading volume of 2,115,343 shares, compared to its average volume of 4,502,498. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $56.42. The firm has a 50 day simple moving average of $52.29 and a 200 day simple moving average of $47.06. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.71 and a current ratio of 0.72. The firm has a market capitalization of $42.28 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.15 and a beta of 1.12.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.30 billion. Bank of New York Mellon had a return on equity of 11.62% and a net margin of 10.01%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.21 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Monday, January 22nd were given a $0.42 dividend. The ex-dividend date was Friday, January 19th. This represents a $1.68 dividend on an annualized basis and a yield of 3.06%. Bank of New York Mellon’s payout ratio is 42.32%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,425 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now directly owns 119,656 shares of the company’s stock, valued at approximately $6,600,224.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Bank of New York Mellon from $45.00 to $44.00 and set a “hold” rating for the company in a research report on Wednesday, October 11th. Bank of America decreased their price objective on Bank of New York Mellon from $55.00 to $53.00 in a report on Tuesday, October 10th. UBS Group lifted their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. raised Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price objective for the company in a report on Monday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.75.

Get Our Latest Analysis on Bank of New York Mellon

Bank of New York Mellon Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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