The Bank of New York Mellon Co. (NYSE:BK) is Isthmus Partners LLC’s 5th Largest Position

Isthmus Partners LLC cut its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,842 shares of the bank’s stock after selling 6,047 shares during the quarter. Bank of New York Mellon accounts for 2.0% of Isthmus Partners LLC’s portfolio, making the stock its 5th largest position. Isthmus Partners LLC’s holdings in Bank of New York Mellon were worth $16,948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BK. McClarren Financial Advisors Inc. raised its holdings 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 acquiring an additional 346 shares in the last quarter. Olistico Wealth LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at $32,000. Family Firm Inc. acquired a new stake in Bank of New York Mellon in the second quarter valued at $40,000. Finally, Fortitude Family Office LLC raised its holdings 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 acquiring an additional 346 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.6 %

Bank of New York Mellon stock opened at $81.74 on Friday. The company has a 50-day simple moving average of $75.87 and a 200-day simple moving average of $67.30. The firm has a market capitalization of $59.43 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $46.81 and a one year high of $82.08.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during 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%. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Activity

In other news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated 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 owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $5,754,079.24. This trade 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.

Analyst Ratings Changes

Several research firms recently issued reports on BK. Barclays upped their price target 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. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. UBS Group increased their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.15.

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.