Amalgamated Bank Has $6.33 Million Position in Bank of New York Mellon Corp (BK)

Amalgamated Bank lessened its holdings in Bank of New York Mellon Corp (NYSE:BK) by 2.2% during the first quarter, Holdings Channel reports. The fund owned 122,870 shares of the bank’s stock after selling 2,768 shares during the quarter. Amalgamated Bank’s holdings in Bank of New York Mellon were worth $6,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Summit Trail Advisors LLC raised its holdings in shares of Bank of New York Mellon by 22.3% in the 1st quarter. Summit Trail Advisors LLC now owns 58,295 shares of the bank’s stock worth $2,463,000 after acquiring an additional 10,628 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Bank of New York Mellon by 3.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 185,508 shares of the bank’s stock worth $9,559,000 after acquiring an additional 5,675 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Bank of New York Mellon by 7.0% in the 1st quarter. Trust Co. of Vermont now owns 33,826 shares of the bank’s stock worth $1,743,000 after acquiring an additional 2,221 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Bank of New York Mellon by 31.3% in the 1st quarter. Royal Bank of Canada now owns 1,424,238 shares of the bank’s stock worth $73,390,000 after acquiring an additional 339,554 shares during the last quarter. Finally, M Holdings Securities Inc. acquired a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $410,000. Institutional investors own 82.08% of the company’s stock.

In other news, insider Kurtis R. Kurimsky sold 4,701 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $57.44, for a total transaction of $270,025.44. Following the completion of the transaction, the insider now directly owns 16,487 shares of the company’s stock, valued at approximately $947,013.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mitchell E. Harris sold 48,000 shares of the stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $56.00, for a total transaction of $2,688,000.00. Following the transaction, the insider now directly owns 166,810 shares of the company’s stock, valued at $9,341,360. The disclosure for this sale can be found here. Insiders have sold a total of 67,701 shares of company stock valued at $3,796,375 over the last three months. Insiders own 1.76% of the company’s stock.

A number of brokerages have issued reports on BK. ValuEngine downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Goldman Sachs Group downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research report on Monday, March 12th. They noted that the move was a valuation call. Deutsche Bank reduced their price objective on shares of Bank of New York Mellon from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, April 6th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 20th. Finally, Keefe, Bruyette & Woods set a $57.00 price objective on shares of Bank of New York Mellon and gave the stock a “hold” rating in a research report on Thursday, March 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.32.

Bank of New York Mellon stock opened at $57.37 on Thursday. Bank of New York Mellon Corp has a twelve month low of $49.01 and a twelve month high of $58.99. The company has a market cap of $57.85 billion, a PE ratio of 15.94, a P/E/G ratio of 1.73 and a beta of 1.20. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.77.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Thursday, April 19th. The bank reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.14. Bank of New York Mellon had a net margin of 25.20% and a return on equity of 11.27%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the firm earned $0.83 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. equities analysts expect that Bank of New York Mellon Corp will post 4.27 EPS for the current fiscal year.

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

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