First Citizens Bank & Trust Co. Sells 1,471 Shares of The Bank of New York Mellon Co. (NYSE:BK)

First Citizens Bank & Trust Co. reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,616 shares of the bank’s stock after selling 1,471 shares during the period. First Citizens Bank & Trust Co.’s holdings in Bank of New York Mellon were worth $978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Blue Trust Inc. lifted its holdings in shares of Bank of New York Mellon by 95.4% in the 3rd quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock valued at $120,000 after acquiring an additional 817 shares during the last quarter. Net Worth Advisory Group bought a new position in shares of Bank of New York Mellon during the 3rd quarter valued at approximately $372,000. OmniStar Financial Group Inc. purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at $966,000. Aaron Wealth Advisors LLC boosted its stake in Bank of New York Mellon by 41.8% during the third quarter. Aaron Wealth Advisors LLC now owns 7,879 shares of the bank’s stock worth $566,000 after buying an additional 2,324 shares during the period. Finally, Claro Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at $2,428,000. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Citigroup increased their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.69.

Bank of New York Mellon Stock Down 1.4 %

Shares of NYSE:BK opened at $76.67 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 52-week low of $41.15 and a 52-week high of $78.03. The business has a fifty day moving average of $69.81 and a two-hundred day moving average of $63.11. The stock has a market cap of $57.34 billion, a P/E ratio of 17.75, a PEG ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.45%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now 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 disclosure for this sale can be found here. 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.