Montag A & Associates Inc. Raises Position in Bank Of New York Mellon Corporation (The) (BK)

Montag A & Associates Inc. lifted its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 765.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,388 shares of the bank’s stock after purchasing an additional 79,949 shares during the period. Montag A & Associates Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $4,792,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Global X Management Co. LLC grew its holdings in Bank Of New York Mellon Corporation (The) by 27.5% during the 1st quarter. Global X Management Co. LLC now owns 10,627 shares of the bank’s stock worth $502,000 after acquiring an additional 2,289 shares during the period. Fairpointe Capital LLC grew its holdings in Bank Of New York Mellon Corporation (The) by 262.8% during the 1st quarter. Fairpointe Capital LLC now owns 32,650 shares of the bank’s stock worth $1,542,000 after acquiring an additional 23,650 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in Bank Of New York Mellon Corporation (The) during the 1st quarter worth $1,854,000. Marshall Wace North America L.P. acquired a new stake in Bank Of New York Mellon Corporation (The) during the 1st quarter worth $1,854,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Bank Of New York Mellon Corporation (The) by 4.3% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 45,013 shares of the bank’s stock worth $2,126,000 after acquiring an additional 1,850 shares during the period. 82.73% of the stock is owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (NYSE BK) traded up $0.09 on Tuesday, reaching $51.02. 3,058,000 shares of the company traded hands, compared to its average volume of 4,560,679. The company has a market cap of $53,470.00, a PE ratio of 14.68, a P/E/G ratio of 1.92 and a beta of 1.21. Bank Of New York Mellon Corporation has a 1-year low of $43.85 and a 1-year high of $55.29. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.14% and a return on equity of 10.51%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. equities research analysts predict that Bank Of New York Mellon Corporation will post 3.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 1.88%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is currently 28.24%.

In other Bank Of New York Mellon Corporation (The) news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total transaction of $303,969,164.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $51.26, for a total transaction of $1,139,407.28. Following the sale, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The disclosure for this sale can be found here. Insiders sold a total of 6,920,640 shares of company stock worth $363,489,801 over the last ninety days. 3.60% of the stock is currently owned by insiders.

A number of analysts have commented on the stock. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. 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 report on Monday, October 9th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, October 20th. 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 report on Tuesday, October 10th. Finally, Zacks Investment Research raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five 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 a consensus target price of $55.28.

TRADEMARK VIOLATION WARNING: “Montag A & Associates Inc. Raises Position in Bank Of New York Mellon Corporation (The) (BK)” was reported by Markets Daily and is the property of of Markets Daily. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.themarketsdaily.com/2017/11/14/montag-a-associates-inc-raises-position-in-bank-of-new-york-mellon-corporation-the-bk.html.

About Bank Of New York Mellon Corporation (The)

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