National Asset Management Inc. Purchases 75 Shares of Bank Of New York Mellon Corporation (The) (BK)

National Asset Management Inc. lifted its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,484 shares of the bank’s stock after buying an additional 75 shares during the quarter. National Asset Management Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $944,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its position in 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 during the period. First Interstate Bank boosted its position in 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 during the period. Exane Derivatives bought a new stake in Bank Of New York Mellon Corporation (The) during the second quarter worth approximately $130,000. Hudock Capital Group LLC boosted its position in 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 purchasing an additional 7 shares during the period. Finally, Burt Wealth Advisors boosted its position in Bank Of New York Mellon Corporation (The) by 2,186.7% during the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock worth $139,000 after purchasing an additional 2,624 shares during the period. 81.78% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This story was published by Markets Daily and is the property of of Markets Daily. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.themarketsdaily.com/2017/10/13/national-asset-management-inc-purchases-75-shares-of-bank-of-new-york-mellon-corporation-the-bk.html.

In other Bank Of New York Mellon Corporation (The) news, Director Trian Fund Management, L.P. sold 10,000,000 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $53.09, for a total value of $530,900,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gerald L. Hassell sold 700,719 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Monday, August 7th. The shares were sold at an average price of $53.91, for a total value of $37,775,761.29. Following the completion of the transaction, the chairman now directly owns 1,253,522 shares of the company’s stock, valued at $67,577,371.02. The disclosure for this sale can be found here. Insiders sold a total of 10,931,137 shares of company stock valued at $581,058,723 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up 0.26% on Friday, hitting $54.88. The stock had a trading volume of 1,120,260 shares. Bank Of New York Mellon Corporation has a 52 week low of $39.19 and a 52 week high of $55.29. The stock’s 50-day moving average price is $52.59 and its 200 day moving average price is $50.30. The company has a market cap of $56.70 billion, a PE ratio of 16.28 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, analysts predict that Bank Of New York Mellon Corporation will post $3.52 EPS for the current year.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $3.10 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup Inc. reaffirmed a “neutral” rating and set a $56.00 target price (up previously from $53.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday. Credit Suisse Group reaffirmed a “hold” rating and set a $55.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 target price for the company. Finally, BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.81.

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.

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 Corporation (The) (NYSE:BK).

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