Chevy Chase Trust Holdings LLC Acquires 1,480 Shares of The Bank of New York Mellon Corporation $BK

Chevy Chase Trust Holdings LLC lifted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 0.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 380,786 shares of the bank’s stock after purchasing an additional 1,480 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Bank of New York Mellon were worth $34,693,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA grew its position in Bank of New York Mellon by 5.8% in the 2nd quarter. Private Trust Co. NA now owns 7,690 shares of the bank’s stock worth $701,000 after purchasing an additional 420 shares in the last quarter. Angeles Wealth Management LLC grew its position in Bank of New York Mellon by 40.5% in the 2nd quarter. Angeles Wealth Management LLC now owns 3,700 shares of the bank’s stock worth $337,000 after purchasing an additional 1,066 shares in the last quarter. Nordea Investment Management AB grew its position in Bank of New York Mellon by 3.2% in the 2nd quarter. Nordea Investment Management AB now owns 62,222 shares of the bank’s stock worth $5,660,000 after purchasing an additional 1,944 shares in the last quarter. S Bank Fund Management Ltd bought a new stake in Bank of New York Mellon in the 2nd quarter worth about $789,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the 2nd quarter worth about $262,000. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent analyst reports. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group upped their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. TD Cowen initiated coverage on shares of Bank of New York Mellon in a research note on Thursday, September 25th. They issued a “buy” rating on the stock. Barclays boosted their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.62.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $105.77 on Friday. The stock has a market capitalization of $74.59 billion, a P/E ratio of 15.26, a PEG ratio of 1.00 and a beta of 1.13. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The firm’s 50 day moving average is $105.59 and its 200 day moving average is $94.47. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. On average, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, the executive vice president directly owned 35,115 shares in the company, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon 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.