Bank of New York Mellon Corp (BK) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lowered its stake in Bank of New York Mellon Corp (NYSE:BK) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,997 shares of the bank’s stock after selling 3,286 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Bank of New York Mellon were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BK. Bridge Creek Capital Management LLC lifted its position in Bank of New York Mellon by 116.1% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 73,980 shares of the bank’s stock valued at $3,590,000 after acquiring an additional 39,743 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its position in Bank of New York Mellon by 46.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 674,297 shares of the bank’s stock valued at $34,295,000 after acquiring an additional 213,609 shares in the last quarter. Personal Capital Advisors Corp lifted its position in Bank of New York Mellon by 7.8% in the 3rd quarter. Personal Capital Advisors Corp now owns 116,370 shares of the bank’s stock valued at $5,934,000 after acquiring an additional 8,417 shares in the last quarter. NEXT Financial Group Inc lifted its position in Bank of New York Mellon by 7.2% in the 3rd quarter. NEXT Financial Group Inc now owns 40,014 shares of the bank’s stock valued at $2,040,000 after acquiring an additional 2,672 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Bank of New York Mellon by 1.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 166,766 shares of the bank’s stock valued at $8,502,000 after acquiring an additional 2,609 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

BK has been the topic of several analyst reports. Zacks Investment Research cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Raymond James cut Bank of New York Mellon from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 12th. Sandler O’Neill reaffirmed a “hold” rating on shares of Bank of New York Mellon in a research report on Friday, July 13th. Keefe, Bruyette & Woods set a $56.00 price objective on Bank of New York Mellon and gave the company a “hold” rating in a research report on Thursday, July 19th. Finally, ValuEngine cut Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $58.58.

NYSE BK opened at $49.10 on Friday. The firm has a market cap of $50.99 billion, a PE ratio of 13.64, a PEG ratio of 1.59 and a beta of 1.05. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corp has a 1-year low of $48.25 and a 1-year high of $58.99.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, July 19th. The bank reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.01. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Bank of New York Mellon had a return on equity of 11.40% and a net margin of 25.08%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. As a group, analysts forecast that Bank of New York Mellon Corp will post 4.18 EPS for the current fiscal year.

Bank of New York Mellon declared that its board has authorized a stock repurchase plan on Thursday, June 28th that permits the company to buyback $2.40 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 4.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Bank of New York Mellon Profile

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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