Daiwa Securities Group Inc. cut its position in Bank of New York Mellon Corp (NYSE:BK) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,105 shares of the bank’s stock after selling 1,596 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Bank of New York Mellon were worth $2,968,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of BK. Advisory Services Network LLC raised its stake in shares of Bank of New York Mellon by 15.5% in the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after buying an additional 363 shares during the period. Cetera Investment Advisers bought a new stake in shares of Bank of New York Mellon in the second quarter valued at $418,000. Perigon Wealth Management LLC raised its stake in shares of Bank of New York Mellon by 18.7% in the second quarter. Perigon Wealth Management LLC now owns 16,967 shares of the bank’s stock valued at $866,000 after buying an additional 2,678 shares during the period. Norman Fields Gottscho Capital Management LLC bought a new stake in shares of Bank of New York Mellon in the third quarter valued at $366,000. Finally, Park National Corp OH raised its stake in shares of Bank of New York Mellon by 16.9% in the third quarter. Park National Corp OH now owns 271,054 shares of the bank’s stock valued at $14,372,000 after buying an additional 39,224 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.
In related news, Director Edward P. Garden sold 143,792 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total transaction of $7,551,955.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas P. Gibbons sold 38,152 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the transaction, the chief financial officer now owns 310,002 shares of the company’s stock, valued at $16,786,608.30. 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. 3.60% of the stock is owned by company insiders.
Bank of New York Mellon Corp (BK) opened at $54.81 on Wednesday. Bank of New York Mellon Corp has a 52-week low of $45.12 and a 52-week high of $58.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69. The firm has a market capitalization of $55,344.07, a price-to-earnings ratio of 15.13, a PEG ratio of 1.74 and a beta of 1.21.
Bank of New York Mellon (NYSE:BK) last posted its earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. analysts anticipate that Bank of New York Mellon Corp will post 4.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Monday, January 29th. Bank of New York Mellon’s payout ratio is 25.74%.
Several brokerages have issued reports on BK. Jefferies Group restated a “hold” rating on shares of Bank of New York Mellon in a research note on Friday, October 20th. Morgan Stanley boosted their target price on Bank of New York Mellon from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Citigroup upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Wednesday, January 10th. Vining Sparks reiterated 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. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Bank of New York Mellon presently has an average rating of “Hold” and a consensus target price 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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