The Bank of New York Mellon Co. (NYSE:BK) Short Interest Update

The Bank of New York Mellon Co. (NYSE:BK) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 9,400,000 shares, an increase of 16.9% from the October 31st total of 8,040,000 shares. Based on an average trading volume of 3,910,000 shares, the short-interest ratio is presently 2.4 days. Currently, 1.3% of the shares of the company are short sold.

Insider Activity

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 owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

Institutional investors have recently modified their holdings of the stock. United Advisor Group LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $595,000. Principal Financial Group Inc. boosted its stake in Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after acquiring an additional 14,916 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in 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 acquiring an additional 421,161 shares in the last quarter. Chase Investment Counsel Corp boosted its stake in Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after acquiring an additional 33,558 shares in the last quarter. Finally, Williams Financial LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $587,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on BK shares. UBS Group increased their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays increased their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective 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, October 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and nine have issued 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 $79.77.

Bank of New York Mellon Trading Up 0.1 %

Bank of New York Mellon stock traded up $0.12 during midday trading on Tuesday, reaching $81.23. The stock had a trading volume of 1,360,871 shares, compared to its average volume of 3,822,157. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. Bank of New York Mellon has a 52-week low of $47.48 and a 52-week high of $82.72. The firm has a market cap of $59.06 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The company has a fifty day moving average of $76.07 and a 200 day moving average of $67.59.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Bank of New York Mellon will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

About Bank of New York Mellon

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.