Montag A & Associates Inc. Decreases Stake in Bank of New York Mellon Corp (NYSE:BK)

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Montag A & Associates Inc. lowered its position in Bank of New York Mellon Corp (NYSE:BK) by 5.6% during the third quarter, HoldingsChannel reports. The firm owned 5,647 shares of the bank’s stock after selling 332 shares during the period. Montag A & Associates Inc.’s holdings in Bank of New York Mellon were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BK. SG Americas Securities LLC increased its stake in shares of Bank of New York Mellon by 49.2% in the 3rd quarter. SG Americas Securities LLC now owns 271,872 shares of the bank’s stock worth $12,291,000 after acquiring an additional 89,692 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Bank of New York Mellon by 26.3% in the 3rd quarter. First Trust Advisors LP now owns 1,845,377 shares of the bank’s stock worth $83,429,000 after acquiring an additional 384,353 shares during the last quarter. Bartlett & Co. LLC increased its stake in shares of Bank of New York Mellon by 16.2% in the 3rd quarter. Bartlett & Co. LLC now owns 40,576 shares of the bank’s stock worth $1,834,000 after acquiring an additional 5,650 shares during the last quarter. Tibra Equities Europe Ltd increased its stake in shares of Bank of New York Mellon by 68.5% in the 3rd quarter. Tibra Equities Europe Ltd now owns 49,700 shares of the bank’s stock worth $2,247,000 after acquiring an additional 20,200 shares during the last quarter. Finally, M Holdings Securities Inc. acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter worth $583,000. Institutional investors own 82.34% of the company’s stock.

A number of brokerages have issued reports on BK. Wolfe Research raised Bank of New York Mellon from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 2nd. Deutsche Bank cut their target price on Bank of New York Mellon from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on Bank of New York Mellon from $47.00 to $45.00 and set an “underweight” rating for the company in a research report on Thursday, October 10th. Buckingham Research cut their price objective on Bank of New York Mellon from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Finally, Credit Suisse Group raised their price objective on Bank of New York Mellon from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $47.90.

Shares of NYSE:BK traded down $0.20 during midday trading on Friday, reaching $49.20. 3,381,908 shares of the company’s stock were exchanged, compared to its average volume of 5,128,121. The firm’s 50 day simple moving average is $45.56 and its two-hundred day simple moving average is $45.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.70 and a quick ratio of 0.71. The stock has a market cap of $46.35 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.50 and a beta of 1.13. Bank of New York Mellon Corp has a fifty-two week low of $40.52 and a fifty-two week high of $54.27.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Bank of New York Mellon had a return on equity of 10.57% and a net margin of 19.31%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. Equities research analysts predict that Bank of New York Mellon Corp will post 3.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Friday, October 25th. Bank of New York Mellon’s dividend payout ratio is currently 29.45%.

In other Bank of New York Mellon news, EVP Mitchell E. Harris sold 50,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $44.60, for a total value of $2,230,000.00. Following the completion of the transaction, the executive vice president now directly owns 142,266 shares of the company’s stock, valued at approximately $6,345,063.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.71% of the company’s stock.

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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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)

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