Bank of New York Mellon Corp (BK) Position Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in Bank of New York Mellon Corp (NYSE:BK) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,560,541 shares of the bank’s stock after selling 8,417 shares during the period. Wells Fargo & Company MN’s holdings in Bank of New York Mellon were worth $137,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BK. Invictus RG bought a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $102,000. Rowland & Co. Investment Counsel ADV bought a new stake in Bank of New York Mellon in the 4th quarter worth approximately $124,000. Advisory Services Network LLC grew its position in Bank of New York Mellon by 15.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after purchasing an additional 363 shares during the period. Horan Capital Advisors LLC. bought a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $139,000. Finally, Sawyer & Company Inc bought a new stake in Bank of New York Mellon in the 4th quarter worth approximately $164,000. Institutional investors own 83.71% of the company’s stock.

A number of brokerages have recently issued reports on BK. Barclays reissued a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Royal Bank of Canada reissued a “hold” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, November 15th. JPMorgan Chase & Co. downgraded shares of Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price objective for the company. in a research report on Friday, January 19th. Vining Sparks reissued a “hold” rating and set a $60.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 24th. Finally, Morgan Stanley raised shares of Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and set a $60.00 price objective for the company in a research report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.76.

In other Bank of New York Mellon news, Director Edward P. Garden sold 143,792 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $52.52, for a total value of $7,551,955.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas P. Gibbons sold 38,152 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the completion of the sale, the chief financial officer now owns 310,002 shares in the company, valued at approximately $16,786,608.30. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Bank of New York Mellon Corp (NYSE BK) opened at $56.25 on Tuesday. The firm has a market cap of $57,006.11, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.79 and a beta of 1.21. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corp has a 1-year low of $45.12 and a 1-year high of $58.99.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, hitting the consensus estimate of $0.91. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. Bank of New York Mellon’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. analysts expect that Bank of New York Mellon Corp will post 4.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is currently 25.74%.

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

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