The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Graham Capital Management L.P.

by · The Markets Daily

Graham Capital Management L.P. raised its position in The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 261.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 57,077 shares of the bank’s stock after purchasing an additional 41,286 shares during the period. Graham Capital Management L.P.’s holdings in Bank of New York Mellon were worth $2,434,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quilter Plc acquired a new stake in shares of Bank of New York Mellon during the first quarter valued at $446,850,000. Brown Brothers Harriman & Co. boosted its stake in shares of Bank of New York Mellon by 97.1% during the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Bank of New York Mellon in the 1st quarter worth about $36,000. Addison Advisors LLC boosted its stake in Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after buying an additional 754 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in Bank of New York Mellon in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 81.29% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.16 during midday trading on Tuesday, reaching $55.45. The stock had a trading volume of 301,188 shares, compared to its average volume of 4,034,731. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $56.42. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s 50 day moving average price is $54.83 and its 200-day moving average price is $48.90. The company has a market capitalization of $41.75 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.15 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK – Get Free Report) last announced its earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.30 billion. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. Bank of New York Mellon’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.26 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, February 2nd. Stockholders of record on Monday, January 22nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, January 19th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 42.32%.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,425 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total transaction of $850,843.00. Following the sale, the vice president now directly owns 119,656 shares of the company’s stock, valued at $6,600,224.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hanneke Smits sold 15,425 shares of Bank of New York Mellon stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now owns 119,656 shares in the company, valued at approximately $6,600,224.96. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price target on the stock in a research note on Monday, December 18th. UBS Group raised their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Finally, Citigroup raised their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Hold” and a consensus price target of $54.75.

Read Our Latest Research Report on BK

Bank of New York Mellon Company Profile

(Free Report)

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.

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