Commerzbank Aktiengesellschaft FI lowered its position in Bank of New York Mellon Corp (NYSE:BK) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,355 shares of the bank’s stock after selling 3,484 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bank of New York Mellon were worth $935,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Country Trust Bank lifted its holdings in 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 lifted its holdings in Bank of New York Mellon by 24.7% during the second quarter. Toronto Dominion Bank now owns 364,150 shares of the bank’s stock worth $18,577,000 after buying an additional 72,058 shares during the period. Sei Investments Co. lifted its holdings in shares of Bank of New York Mellon by 7.4% during the 3rd 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 last quarter. Rothschild Asset Management Inc. purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at $612,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at $748,000. 83.75% of the stock is currently owned by institutional investors.
Several analysts have recently commented on BK shares. Barclays reiterated a “buy” rating on shares of Bank of New York Mellon in a report 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 price objective for the company in a report on Wednesday, December 20th. ValuEngine upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note 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 for the company in a research note on Wednesday, January 10th. Finally, Vining Sparks restated a “buy” rating and issued a $62.00 target price on shares of Bank of New York Mellon in a research note on Monday, January 8th. Three research 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 currently has a consensus rating of “Hold” and an average price target of $56.76.
Bank of New York Mellon Corp (NYSE BK) traded up $0.79 during mid-day trading on Friday, reaching $54.08. The company had a trading volume of 6,166,273 shares, compared to its average volume of 5,365,023. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corp has a 12 month low of $45.12 and a 12 month high of $58.99. The firm has a market cap of $54,806.95, a PE ratio of 14.98, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21.
Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 earnings per share (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 company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm posted $0.77 EPS. Bank of New York Mellon’s revenue was down 1.6% compared to the same quarter last year. equities research analysts anticipate that Bank of New York Mellon Corp will post 4.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Tuesday, January 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio (DPR) is 25.74%.
In other news, Director Edward P. Garden sold 143,792 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $52.52, for a total transaction of $7,551,955.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas P. Gibbons sold 38,152 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the sale, the chief financial officer now directly owns 310,002 shares in the company, valued at approximately $16,786,608.30. The disclosure for this sale can be found here. Insiders sold a total of 831,944 shares of company stock worth $43,807,887 over the last three months. Corporate insiders own 3.60% of the company’s stock.
About Bank of New York Mellon
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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