Sather Financial Group Inc increased its position in The Bank of New York Mellon (NYSE:BK) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,996 shares of the bank’s stock after acquiring an additional 1,821 shares during the quarter. The Bank of New York Mellon comprises about 1.8% of Sather Financial Group Inc’s holdings, making the stock its 27th biggest holding. Sather Financial Group Inc’s holdings in The Bank of New York Mellon were worth $7,055,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Inc. raised its stake in The Bank of New York Mellon by 6.6% in the fourth quarter. Wealthfront Inc. now owns 47,762 shares of the bank’s stock valued at $2,572,000 after purchasing an additional 2,974 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in The Bank of New York Mellon in the third quarter valued at approximately $748,000. Valeo Financial Advisors LLC raised its stake in The Bank of New York Mellon by 31.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 14,191 shares of the bank’s stock valued at $764,000 after purchasing an additional 3,434 shares in the last quarter. Rothschild Asset Management Inc. purchased a new stake in The Bank of New York Mellon in the third quarter valued at approximately $612,000. Finally, Captrust Financial Advisors purchased a new stake in The Bank of New York Mellon in the fourth quarter valued at approximately $243,000. Institutional investors own 84.13% of the company’s stock.
A number of brokerages recently weighed in on BK. Deutsche Bank lowered their target price on shares of The Bank of New York Mellon from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. ValuEngine downgraded shares of The Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Morgan Stanley raised their target price on shares of The Bank of New York Mellon from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, March 12th. Goldman Sachs downgraded shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Monday, March 12th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods set a $57.00 target price on shares of The Bank of New York Mellon and gave the company a “hold” rating in a research note on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $57.75.
In related news, insider Bridget E. Engle sold 38,928 shares of The Bank of New York Mellon stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $56.62, for a total value of $2,204,103.36. Following the transaction, the insider now directly owns 68,046 shares of the company’s stock, valued at $3,852,764.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Trian Fund Management, L.P. bought 360,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was purchased at an average cost of $56.67 per share, for a total transaction of $20,401,200.00. The disclosure for this purchase can be found here. 1.76% of the stock is owned by insiders.
BK stock opened at $50.35 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82. The Bank of New York Mellon has a one year low of $45.88 and a one year high of $58.99. The company has a market cap of $52,234.31, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.66 and a beta of 1.22.
The Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, hitting the consensus estimate of $0.91. The Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. analysts anticipate that The Bank of New York Mellon will post 4.03 EPS for the current year.
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About The Bank of New York Mellon
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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