Bank Of New York Mellon Corporation (The) (BK) Stake Decreased by Chicago Equity Partners LLC

Chicago Equity Partners LLC trimmed its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,325 shares of the bank’s stock after selling 4,620 shares during the quarter. Chicago Equity Partners LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $11,190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Bank Of New York Mellon Corporation (The) by 4.4% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after purchasing an additional 92 shares in the last quarter. First Interstate Bank boosted its position in shares of Bank Of New York Mellon Corporation (The) by 56.2% during the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after purchasing an additional 842 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth $111,000. Exane Derivatives bought a new position in shares of Bank Of New York Mellon Corporation (The) during the second quarter worth $130,000. Finally, Hudock Capital Group LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after acquiring an additional 7 shares during the period. 81.80% of the stock is currently owned by institutional investors.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at 50.43 on Monday. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.59. The firm has a 50-day moving average of $52.68 and a 200 day moving average of $49.38. The firm has a market capitalization of $52.10 billion, a price-to-earnings ratio of 14.96 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $3.10 billion in shares. This repurchase authorization permits the bank to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

WARNING: “Bank Of New York Mellon Corporation (The) (BK) Stake Decreased by Chicago Equity Partners LLC” was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.themarketsdaily.com/2017/09/11/bank-of-new-york-mellon-corporation-the-bk-stake-decreased-by-chicago-equity-partners-llc.html.

In other news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total value of $9,947,301.00. Following the completion of the sale, the insider now owns 455,927 shares in the company, valued at $24,597,261.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Trian Fund Management, L.P. sold 10,000,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total transaction of $530,900,000.00. The disclosure for this sale can be found here. Insiders sold 10,931,137 shares of company stock worth $581,058,723 over the last ninety days. Insiders own 3.60% of the company’s stock.

A number of equities research analysts recently commented on BK shares. Deutsche Bank AG raised their price objective on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Bank of America Corporation set a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Saturday, May 27th. Zacks Investment Research upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, July 24th. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Wells Fargo & Company started coverage on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $53.59.

Bank Of New York Mellon Corporation (The) Profile

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.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply