The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,616 shares of the bank’s stock after selling 1,471 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Bank of New York Mellon were worth $978,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BK. Olistico Wealth LLC purchased a new position in Bank of New York Mellon in the 2nd quarter valued at $30,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon during the first quarter worth about $32,000. Clearstead Trust LLC purchased a new position in Bank of New York Mellon during the second quarter worth about $32,000. Family Firm Inc. acquired a new stake in Bank of New York Mellon in the second quarter valued at about $40,000. Finally, Grove Bank & Trust boosted its holdings in Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BK shares. Evercore ISI upped their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays upped their target price on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. UBS Group boosted their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

Insider Activity

In related news, 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 value of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other 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 in the company, 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 SEC, which can be accessed through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated 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 sale, 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 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 Trading Down 1.4 %

NYSE:BK opened at $76.67 on Friday. The Bank of New York Mellon Co. has a 12 month low of $41.15 and a 12 month high of $78.03. The business’s 50-day moving average is $69.81 and its two-hundred day moving average is $63.11. 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 firm has a market capitalization of $57.34 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.45%. Bank of New York Mellon’s payout ratio is currently 43.52%.

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.