GAMMA Investing LLC Increases Stake in The Bank of New York Mellon Co. (NYSE:BK)

GAMMA Investing LLC has announced that it has increased its investment in The Bank of New York Mellon Co. (NYSE:BK) by 14.2% during the fourth quarter. This was disclosed in their most recent filing with the Securities and Exchange Commission (SEC). As a result of this investment strategy, GAMMA now holds 14,524 shares of the bank's stock after acquiring an additional 1,807 shares in the recent quarter. The total value of GAMMA Investing's holdings in the Bank of New York Mellon is approximately $1,116,000, as per the latest SEC disclosure.

In addition to GAMMA Investing, several other institutional investors have also adjusted their positions in The Bank of New York Mellon. For example, McClarren Financial Advisors Inc. significantly increased its stake in the bank by an astonishing 586.4% during the third quarter. After purchasing an extra 346 shares, McClarren now owns a total of 405 shares, valued at around $29,000. Furthermore, Clearstead Trust LLC entered the market with a new position valued at approximately $32,000 during the second quarter.

Additionally, Fortitude Family Office LLC raised its stake in the bank by 130.6% in the third quarter, owning 611 shares worth about $44,000 after acquiring more shares. Grove Bank & Trust also increased its holdings in The Bank of New York Mellon by 28.8%, now owning 644 shares valued at around $46,000. Lastly, Ashton Thomas Securities LLC invested in a new position in the third quarter, amounting to roughly $46,000. Collectively, institutional investors and hedge funds now own 85.31% of the company's stock.

Changes in Analyst Price Targets

A number of analysts have recently updated their price targets for The Bank of New York Mellon's shares. Barclays, for instance, raised its price target from $75.00 to $86.00 while assigning an “overweight” rating to the stock in a report released on October 14th. Morgan Stanley also adjusted their target from $94.00 down to $90.00 and maintained their “overweight” rating.

Similarly, Deutsche Bank Aktiengesellschaft increased its price objective from $82.00 to $85.00, declaring a “buy” rating on the stock in its report from November 11th. JPMorgan Chase & Co. raised their price target from $69.00 to $77.00, also giving the company an “overweight” rating in their report from October 7th. Lastly, Keefe, Bruyette & Woods increased their price target from $87.00 to $96.00, rating the stock as “outperform.” Currently, five analysts have issued a hold rating while ten have assigned a buy rating to The Bank of New York Mellon. As noted by MarketBeat, the stock holds a consensus rating of “Moderate Buy” with an average price target of $80.77.

Stock Performance Update

The stock of The Bank of New York Mellon opened at $76.93 recently. The bank boasts a market capitalization of $55.93 billion, a price-to-earnings (PE) ratio of 16.72, a price/earnings-to-growth (PEG) ratio of 0.91, and a beta of 1.07. Over the past year, BK shares have ranged from a low of $51.86 to a high of $82.72. The company’s debt-to-equity ratio stands at 0.89, with quick and current ratios both at 0.70. Over the last 50 days, the moving average price is $78.38 and $70.75 over the last 200 days.

The Bank of New York Mellon reported its quarterly earnings on October 11th, revealing earnings per share (EPS) of $1.52, which surpassed analysts' expectations of $1.41 by $0.11. The revenue for the quarter reached $4.65 billion, again exceeding the forecast of $4.52 billion. The bank achieved a net margin of 9.44% with a return on equity of 12.06%. Analysts project that The Bank of New York Mellon will post an EPS of 5.84 for the current year.

Dividend Announcement

Recently, The Bank of New York Mellon also announced a quarterly dividend, which was paid on November 1st. Shareholders who had registered by October 21st received a dividend of $0.47 per share, which translates to an annualized amount of $1.88 and a yield of 2.44%. The record date for this dividend was also October 21st, and the payout ratio stands at 40.87%.

Insider Transactions

In other recent news, J. Kevin McCarthy, the Executive Vice President of The Bank of New York Mellon, sold 25,000 shares on October 15th at an average price of $76.31, totaling a value of $1,907,750. Following this sale, McCarthy now owns 75,404 shares valued at around $5,754,079.24, which represents a decrease of 24.90% in his holdings. This transaction was recorded in a document filed with the SEC.

Additionally, VP Hanneke Smits sold 16,475 shares on the same day for an average price of $76.47, totaling roughly $1,259,843.25. After this sale, Smits owns 157,455 shares valued at approximately $12,040,583.85, signaling a decrease of 9.47% in her stake. The details of these trades can be found in SEC filings.

Company Overview

The Bank of New York Mellon Corporation offers a wide array of financial products and services in both the United States and globally. The firm operates through several segments including Securities Services, Market and Wealth Services, and Investment and Wealth Management.

The Securities Services segment is particularly integral to its operations, providing custody, trust, depositary services, accounting, and liquidity/lending services among many others.

investment, stocks, dividends