The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 16.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,108 shares of the bank’s stock after selling 609 shares during the quarter. O Keefe Stevens Advisory Inc.’s holdings in Bank of New York Mellon were worth $223,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BK. Entropy Technologies LP acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $1,027,000. QRG Capital Management Inc. lifted its stake in Bank of New York Mellon by 6.9% during the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after purchasing an additional 8,204 shares during the last quarter. Wakefield Asset Management LLLP bought a new stake in Bank of New York Mellon during the first quarter worth approximately $3,740,000. Bessemer Group Inc. grew its position in Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after buying an additional 17,312 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after buying an additional 421,161 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.0 %

Bank of New York Mellon stock opened at $73.19 on Wednesday. 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 Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $73.35. The company’s fifty day simple moving average is $67.61 and its 200-day simple moving average is $61.97. The stock has a market cap of $54.73 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.24 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a dividend yield of 2.57%. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BK shares. Citigroup raised their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Morgan Stanley increased their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. The Goldman Sachs Group raised their target price on shares of 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. JPMorgan Chase & Co. boosted their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday. Finally, UBS Group raised their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.92.

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.