King Luther Capital Management Corp Has $2.90 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

King Luther Capital Management Corp increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,286 shares of the bank’s stock after buying an additional 459 shares during the period. King Luther Capital Management Corp’s holdings in Bank of New York Mellon were worth $2,895,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BK. McClarren Financial Advisors Inc. raised its position in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $30,000. Clearstead Trust LLC acquired a new position in Bank of New York Mellon in the second quarter valued at approximately $32,000. Family Firm Inc. bought a new position in Bank of New York Mellon in the second quarter valued at approximately $40,000. Finally, Fortitude Family Office LLC grew its holdings in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the period. 85.31% of the stock is owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s 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 sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents 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.

Analyst Ratings Changes

BK has been the topic of several recent research reports. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Citigroup upped their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upped their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.23.

Bank of New York Mellon Trading Up 1.6 %

Shares of NYSE:BK opened at $80.14 on Friday. The firm has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.89 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12 month low of $46.81 and a 12 month high of $80.29. The company’s fifty day simple moving average is $75.03 and its 200 day simple moving average is $66.64.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. 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.