Abner Herrman & Brock LLC Has $10.76 Million Holdings in Bank of New York Mellon Corp (BK)

Abner Herrman & Brock LLC lowered its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,528 shares of the bank’s stock after selling 820 shares during the quarter. Bank of New York Mellon accounts for about 2.0% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 22nd largest position. Abner Herrman & Brock LLC’s holdings in Bank of New York Mellon were worth $10,757,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. New England Research & Management Inc. bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $306,000. Moody National Bank Trust Division raised its position in shares of Bank of New York Mellon by 0.3% during the fourth quarter. Moody National Bank Trust Division now owns 203,396 shares of the bank’s stock valued at $9,574,000 after buying an additional 655 shares during the last quarter. Norman Fields Gottscho Capital Management LLC raised its position in shares of Bank of New York Mellon by 18.4% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 38,891 shares of the bank’s stock valued at $1,831,000 after buying an additional 6,055 shares during the last quarter. Matthew Goff Investment Advisor LLC increased its position in Bank of New York Mellon by 1.3% in the third quarter. Matthew Goff Investment Advisor LLC now owns 122,622 shares of the bank’s stock worth $6,253,000 after purchasing an additional 1,577 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. increased its position in Bank of New York Mellon by 8.2% in the third quarter. Strategic Wealth Partners Ltd. now owns 18,876 shares of the bank’s stock worth $963,000 after purchasing an additional 1,432 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

BK stock traded up $0.57 during mid-day trading on Friday, reaching $48.04. 198,320 shares of the stock traded hands, compared to its average volume of 7,115,878. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. Bank of New York Mellon Corp has a one year low of $43.67 and a one year high of $58.99. The stock has a market capitalization of $47.22 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, October 18th. The bank reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. Bank of New York Mellon had a net margin of 24.92% and a return on equity of 11.48%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Bank of New York Mellon Corp will post 4.14 EPS for the current year.

Bank of New York Mellon declared that its board has authorized a share buyback plan on Monday, December 10th that permits the company to buyback $830.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

BK has been the topic of several research reports. Zacks Investment Research cut shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Keefe, Bruyette & Woods cut shares of Bank of New York Mellon from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $55.00 to $49.00 in a research report on Friday, October 19th. ValuEngine upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Deutsche Bank reduced their price target on shares of Bank of New York Mellon from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Finally, Citigroup reduced their price target on shares of Bank of New York Mellon from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $55.75.

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Bank of New York Mellon Company 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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