Commerce Bank Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Commerce Bank grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,995 shares of the bank’s stock after purchasing an additional 352 shares during the quarter. Commerce Bank’s holdings in Bank of New York Mellon were worth $2,155,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. McClarren Financial Advisors Inc. raised its holdings in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $30,000. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at $32,000. Family Firm Inc. acquired a new position in Bank of New York Mellon in the second quarter valued at $40,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BK shares. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. 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 research report on Monday, October 14th. UBS Group upped 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 report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.23.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 1.6 %

BK opened at $80.14 on Friday. The business has a 50 day simple moving average of $75.03 and a 200-day simple moving average of $66.71. The Bank of New York Mellon Co. has a 12 month low of $46.81 and a 12 month high of $80.29. The stock has a market capitalization of $58.27 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.90 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 11th. The bank reported $1.52 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%. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.