Addison Capital Co Trims Position in The Bank of New York Mellon Co. (NYSE:BK)

Addison Capital Co lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,631 shares of the bank’s stock after selling 941 shares during the quarter. Addison Capital Co’s holdings in Bank of New York Mellon were worth $692,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Grove Bank & Trust lifted its stake in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Bank of New York Mellon by 4.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock worth $231,000 after purchasing an additional 165 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Bank of New York Mellon by 3.8% during the 2nd quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after purchasing an additional 171 shares during the period. Mezzasalma Advisors LLC lifted its stake in shares of Bank of New York Mellon by 4.2% during the 3rd quarter. Mezzasalma Advisors LLC now owns 4,480 shares of the bank’s stock worth $322,000 after purchasing an additional 181 shares during the period. Finally, Greenleaf Trust raised its position in shares of Bank of New York Mellon by 0.7% in the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock worth $1,633,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.1 %

Shares of Bank of New York Mellon stock opened at $77.70 on Friday. The business has a 50-day moving average of $69.55 and a 200-day moving average of $62.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $58.11 billion, a PE ratio of 18.00, a P/E/G ratio of 1.16 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $41.15 and a 1-year high of $78.03.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was 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 in the company, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was 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 in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was 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 owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % 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.

Analysts Set New Price Targets

BK has been the topic of several research reports. Citigroup increased their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group increased their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.69.

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.