Duality Advisers LP Invests $1.65 Million in Bank of New York Mellon Corp (NYSE:BK)

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Duality Advisers LP purchased a new stake in shares of Bank of New York Mellon Corp (NYSE:BK) during the second quarter, Holdings Channel.com reports. The fund purchased 42,607 shares of the bank’s stock, valued at approximately $1,647,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Capstone Financial Group Inc. grew its stake in Bank of New York Mellon by 39.1% in the 2nd quarter. Capstone Financial Group Inc. now owns 1,053 shares of the bank’s stock valued at $40,000 after purchasing an additional 296 shares during the period. Laurel Wealth Advisors LLC grew its position in Bank of New York Mellon by 18.3% during the first quarter. Laurel Wealth Advisors LLC now owns 1,941 shares of the bank’s stock valued at $65,000 after buying an additional 300 shares during the period. Column Capital Advisors LLC increased its holdings in Bank of New York Mellon by 20.6% during the first quarter. Column Capital Advisors LLC now owns 1,758 shares of the bank’s stock worth $59,000 after buying an additional 300 shares during the last quarter. CSat Investment Advisory L.P. raised its position in Bank of New York Mellon by 13.2% in the first quarter. CSat Investment Advisory L.P. now owns 2,706 shares of the bank’s stock worth $91,000 after acquiring an additional 316 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Bank of New York Mellon by 0.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 36,030 shares of the bank’s stock valued at $1,393,000 after acquiring an additional 330 shares during the last quarter. 81.65% of the stock is currently owned by institutional investors.

In other news, EVP Mitchell E. Harris sold 35,000 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $35.75, for a total value of $1,251,250.00. Following the transaction, the executive vice president now owns 145,425 shares of the company’s stock, valued at approximately $5,198,943.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.12, for a total transaction of $351,200.00. Following the sale, the executive vice president now owns 119,870 shares in the company, valued at approximately $4,209,834.40. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

NYSE BK opened at $35.85 on Friday. The company’s 50 day simple moving average is $37.53 and its two-hundred day simple moving average is $38.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.68 and a quick ratio of 0.72. Bank of New York Mellon Corp has a 1 year low of $26.40 and a 1 year high of $51.60. The stock has a market capitalization of $31.74 billion, a PE ratio of 7.71, a P/E/G ratio of 1.15 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 10.34%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, research analysts anticipate that Bank of New York Mellon Corp will post 3.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Monday, July 27th will be paid a $0.31 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.24 dividend on an annualized basis and a yield of 3.46%. Bank of New York Mellon’s dividend payout ratio is currently 30.85%.

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “hold” rating on shares of Bank of New York Mellon in a report on Sunday, April 19th. Wells Fargo & Co boosted their target price on Bank of New York Mellon from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, June 5th. Jefferies Financial Group raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $45.00 in a research report on Wednesday, July 8th. Seaport Global Securities began coverage on Bank of New York Mellon in a report on Wednesday, July 8th. They issued a “buy” rating and a $51.00 price objective for the company. Finally, Bank of America boosted their price objective on Bank of New York Mellon from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.97.

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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