926 Shares in The Bank of New York Mellon Co. (NYSE:BK) Acquired by Eastern Bank

Eastern Bank acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 926 shares of the bank’s stock, valued at approximately $67,000.

Several other institutional investors have also recently bought and sold shares of BK. Marshall Wace LLP raised its position in Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after purchasing an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. raised its position in Bank of New York Mellon by 6,040.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after purchasing an additional 1,020,906 shares during the last quarter. M&G Plc bought a new position in Bank of New York Mellon in the 1st quarter worth approximately $55,543,000. Swedbank AB bought a new position in Bank of New York Mellon in the 1st quarter worth approximately $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Bank of New York Mellon by 89.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after purchasing an additional 574,319 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $75.20 on Friday. The Bank of New York Mellon Co. has a 12-month low of $41.44 and a 12-month high of $78.03. The firm has a market capitalization of $56.24 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average of $70.78 and a 200-day moving average of $63.60.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Monday, October 21st. Bank of New York Mellon’s payout ratio is presently 43.52%.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on 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. This represents a 0.00 % decrease in their position. The sale 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 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 sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % 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 Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon 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.