Amalgamated Bank Sells 6,261 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Amalgamated Bank cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,403 shares of the bank’s stock after selling 6,261 shares during the period. Amalgamated Bank’s holdings in Bank of New York Mellon were worth $10,449,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Stanley Laman Group Ltd. boosted its position in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after purchasing an additional 135 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after acquiring an additional 142 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Bank of New York Mellon by 1.1% during the third quarter. Signaturefd LLC now owns 14,386 shares of the bank’s stock valued at $1,034,000 after acquiring an additional 157 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of Bank of New York Mellon by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock worth $231,000 after purchasing an additional 165 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BK. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Barclays increased 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. Morgan Stanley boosted their price objective 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. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the firm’s 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 transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $76.01 on Wednesday. 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 stock has a 50-day simple moving average of $72.34 and a two-hundred day simple moving average of $64.85. The firm has a market capitalization of $56.09 billion, a PE ratio of 16.52, a P/E/G ratio of 0.88 and a beta of 1.07. The Bank of New York Mellon Co. has a 52-week low of $44.32 and a 52-week high of $78.03.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Analysts forecast that The Bank of New York Mellon Co. will post 5.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company 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 2.47%. Bank of New York Mellon’s payout ratio is 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.