Stephens Inc. AR lessened its stake in Bank of New York Mellon Corp (NYSE:BK) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,689 shares of the bank’s stock after selling 1,036 shares during the quarter. Stephens Inc. AR’s holdings in Bank of New York Mellon were worth $4,507,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BK. Country Trust Bank boosted its position in shares of Bank of New York Mellon by 4.1% during the third quarter. Country Trust Bank now owns 606,030 shares of the bank’s stock worth $32,132,000 after buying an additional 23,683 shares during the period. Toronto Dominion Bank boosted its holdings in Bank of New York Mellon by 24.7% in the second quarter. Toronto Dominion Bank now owns 364,150 shares of the bank’s stock valued at $18,577,000 after purchasing an additional 72,058 shares during the period. Sei Investments Co. boosted its holdings in Bank of New York Mellon by 7.4% in the third quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock valued at $54,102,000 after purchasing an additional 70,619 shares during the period. Rothschild Asset Management Inc. purchased a new position in Bank of New York Mellon in the third quarter valued at $612,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in Bank of New York Mellon in the third quarter valued at $748,000. 83.67% of the stock is owned by hedge funds and other institutional investors.
Bank of New York Mellon Corp (NYSE BK) traded up $1.13 during mid-day trading on Wednesday, reaching $55.94. The company had a trading volume of 2,392,429 shares, compared to its average volume of 4,884,167. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.82. The stock has a market cap of $55,344.07, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.74 and a beta of 1.21. Bank of New York Mellon Corp has a 12-month low of $45.12 and a 12-month high of $58.99.
Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. Bank of New York Mellon’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. analysts anticipate that Bank of New York Mellon Corp will post 4.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Tuesday, January 30th were issued a dividend of $0.24 per share. The ex-dividend date was Monday, January 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.72%. Bank of New York Mellon’s payout ratio is 25.74%.
In other Bank of New York Mellon news, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $54.15, for a total value of $2,065,930.80. Following the completion of the transaction, the chief financial officer now directly owns 310,002 shares of the company’s stock, valued at approximately $16,786,608.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward P. Garden sold 650,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.60, for a total transaction of $34,190,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 831,944 shares of company stock valued at $43,807,887. Insiders own 3.60% of the company’s stock.
A number of analysts have weighed in on the company. Barclays restated a “buy” rating on shares of Bank of New York Mellon in a research note on Sunday, January 21st. Zacks Investment Research upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Wednesday, December 20th. ValuEngine upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Citigroup upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, January 10th. Finally, Vining Sparks restated a “buy” rating and issued a $62.00 price target on shares of Bank of New York Mellon in a research report on Monday, January 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Bank of New York Mellon has an average rating of “Hold” and a consensus price target of $56.76.
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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.
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