Bank of New York Mellon Corp (BK) Stake Increased by Matthew Goff Investment Advisor LLC

Matthew Goff Investment Advisor LLC lifted its holdings in Bank of New York Mellon Corp (NYSE:BK) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,683 shares of the bank’s stock after buying an additional 3,110 shares during the period. Bank of New York Mellon comprises approximately 2.4% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 15th biggest position. Matthew Goff Investment Advisor LLC’s holdings in Bank of New York Mellon were worth $5,704,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BK. BlackRock Inc. raised its holdings in shares of Bank of New York Mellon by 1.4% during the fourth quarter. BlackRock Inc. now owns 58,687,093 shares of the bank’s stock worth $3,160,885,000 after acquiring an additional 808,949 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in shares of Bank of New York Mellon by 1.7% during the fourth quarter. Longview Partners Guernsey LTD now owns 17,675,284 shares of the bank’s stock worth $951,991,000 after acquiring an additional 293,300 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Bank of New York Mellon by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 10,680,589 shares of the bank’s stock worth $574,033,000 after acquiring an additional 161,352 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bank of New York Mellon by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 7,320,090 shares of the bank’s stock worth $394,261,000 after acquiring an additional 41,973 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Bank of New York Mellon by 9.1% during the fourth quarter. American Century Companies Inc. now owns 6,557,953 shares of the bank’s stock worth $353,211,000 after acquiring an additional 549,519 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

In other news, insider Kurtis R. Kurimsky sold 4,701 shares of Bank of New York Mellon stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $57.44, for a total value of $270,025.44. Following the transaction, the insider now directly owns 16,487 shares in the company, valued at $947,013.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bridget E. Engle sold 38,928 shares of Bank of New York Mellon stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $56.62, for a total value of $2,204,103.36. Following the completion of the transaction, the insider now owns 68,046 shares in the company, valued at $3,852,764.52. The disclosure for this sale can be found here. Insiders sold 106,629 shares of company stock worth $6,000,479 over the last quarter. 1.76% of the stock is currently owned by corporate insiders.

BK has been the subject of several recent research reports. Vining Sparks reiterated a “hold” rating and set a $60.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, January 24th. Morgan Stanley raised their target price on Bank of New York Mellon from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Deutsche Bank raised their target price on Bank of New York Mellon from $64.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. Bank of America upgraded Bank of New York Mellon from an “underperform” rating to a “neutral” rating and set a $52.00 target price on the stock in a report on Wednesday, March 7th. Finally, Keefe, Bruyette & Woods set a $57.00 target price on Bank of New York Mellon and gave the company a “hold” rating in a report on Thursday, March 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $58.32.

Bank of New York Mellon stock opened at $57.59 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $58.34 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. Bank of New York Mellon Corp has a 52 week low of $46.60 and a 52 week high of $58.99.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.04 billion. Bank of New York Mellon had a return on equity of 11.27% and a net margin of 25.20%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. analysts anticipate that Bank of New York Mellon Corp will post 4.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Tuesday, May 1st were paid a $0.24 dividend. The ex-dividend date was Monday, April 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.67%. Bank of New York Mellon’s payout ratio is presently 26.67%.

Bank of New York Mellon Company Profile

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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

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

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply