The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Graypoint LLC

Graypoint LLC lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,140 shares of the bank’s stock after selling 846 shares during the quarter. Graypoint LLC’s holdings in Bank of New York Mellon were worth $549,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its position in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at about $32,000. Fortitude Family Office LLC lifted its position in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the last quarter. Grove Bank & Trust boosted its stake in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon during the third quarter valued at about $46,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BK shares. Truist Financial assumed coverage on shares of Bank of New York Mellon in a research report on Tuesday, January 7th. They set a “buy” rating and a $91.00 price objective for the company. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Morgan Stanley decreased their target price on Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays increased their price target on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.64.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $75.55 on Friday. The Bank of New York Mellon Co. has a 12 month low of $52.21 and a 12 month high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market cap of $54.93 billion, a P/E ratio of 16.42, a PEG ratio of 0.91 and a beta of 1.08. The firm has a fifty day moving average price of $78.56 and a 200 day moving average price of $71.62.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

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.