Regal Investment Advisors LLC Takes $1.91 Million Position in Bank Of New York Mellon Corporation (The) (NYSE:BK)

Regal Investment Advisors LLC acquired a new position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 36,008 shares of the bank’s stock, valued at approximately $1,909,000.

Several other large investors also recently modified their holdings of the stock. Matthew Goff Investment Advisor LLC boosted its holdings in shares of Bank Of New York Mellon by 4.0% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 106,713 shares of the bank’s stock worth $5,658,000 after buying an additional 4,087 shares during the last quarter. Cipher Capital LP purchased a new stake in Bank Of New York Mellon during the third quarter valued at about $2,529,000. Quantum Capital Management purchased a new stake in Bank Of New York Mellon during the third quarter valued at about $1,060,000. Commonwealth Equity Services Inc lifted its holdings in Bank Of New York Mellon by 3.1% during the third quarter. Commonwealth Equity Services Inc now owns 166,811 shares of the bank’s stock valued at $8,844,000 after purchasing an additional 5,044 shares during the last quarter. Finally, Motco lifted its holdings in Bank Of New York Mellon by 1.1% during the third quarter. Motco now owns 107,906 shares of the bank’s stock valued at $5,721,000 after purchasing an additional 1,184 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

In related news, Vice Chairman Brian T. Shea sold 22,228 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.26, for a total value of $1,139,407.28. Following the transaction, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Gerald L. Hassell sold 24,280 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total transaction of $1,255,033.20. Following the completion of the transaction, the chairman now owns 857,899 shares in the company, valued at $44,344,799.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,670,182 shares of company stock worth $402,890,932. 3.60% of the stock is owned by company insiders.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded up $0.52 on Monday, hitting $54.97. The stock had a trading volume of 5,985,857 shares, compared to its average volume of 4,596,880. Bank Of New York Mellon Corporation has a 12-month low of $43.85 and a 12-month high of $55.40. The company has a market capitalization of $55,758.00, a PE ratio of 15.69, a PEG ratio of 1.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69.

Bank Of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. equities analysts expect that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon’s dividend payout ratio (DPR) is 28.07%.

BK has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon in a report on Wednesday, November 15th. Credit Suisse Group reaffirmed a “hold” rating and set a $55.00 price objective on shares of Bank Of New York Mellon in a report on Tuesday, October 10th. Morgan Stanley upped their price objective on shares of Bank Of New York Mellon from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Jefferies Group reaffirmed a “hold” rating and set a $56.00 price objective on shares of Bank Of New York Mellon in a report on Friday, September 15th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $58.00 price objective (up from $52.85) on shares of Bank Of New York Mellon in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Bank Of New York Mellon presently has an average rating of “Hold” and a consensus target price of $55.28.

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Bank Of New York Mellon Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Institutional Ownership by Quarter for Bank Of New York Mellon (NYSE:BK)

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