Golub Group LLC Acquires 901 Shares of Bank of New York Mellon Corp (NYSE:BK)

Golub Group LLC lifted its holdings in Bank of New York Mellon Corp (NYSE:BK) by 0.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 632,842 shares of the bank’s stock after buying an additional 901 shares during the quarter. Bank of New York Mellon comprises 2.3% of Golub Group LLC’s portfolio, making the stock its 23rd biggest holding. Golub Group LLC’s holdings in Bank of New York Mellon were worth $28,611,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in Bank of New York Mellon by 0.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 54,282 shares of the bank’s stock worth $2,397,000 after acquiring an additional 218 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Bank of New York Mellon by 1.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 17,821 shares of the bank’s stock worth $786,000 after buying an additional 221 shares during the period. St. Johns Investment Management Company LLC increased its position in Bank of New York Mellon by 1.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 13,564 shares of the bank’s stock worth $599,000 after buying an additional 227 shares during the period. Endurance Wealth Management Inc. increased its position in Bank of New York Mellon by 23.0% during the 3rd quarter. Endurance Wealth Management Inc. now owns 1,335 shares of the bank’s stock worth $60,000 after buying an additional 250 shares during the period. Finally, Schulhoff & Co. Inc. increased its position in Bank of New York Mellon by 1.1% during the 3rd quarter. Schulhoff & Co. Inc. now owns 24,213 shares of the bank’s stock worth $1,094,000 after buying an additional 253 shares during the period. 82.34% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently issued reports on BK shares. Buckingham Research reduced their target price on Bank of New York Mellon from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. ValuEngine lowered Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Deutsche Bank reduced their target price on Bank of New York Mellon from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Keefe, Bruyette & Woods raised Bank of New York Mellon from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $46.00 to $47.00 in a report on Thursday, July 18th. Finally, Credit Suisse Group increased their target price on Bank of New York Mellon from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $47.90.

Shares of BK traded down $0.20 during trading hours on Friday, hitting $49.20. 3,381,908 shares of the company were exchanged, compared to its average volume of 5,128,121. The company has a market cap of $46.35 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.50 and a beta of 1.13. Bank of New York Mellon Corp has a fifty-two week low of $40.52 and a fifty-two week high of $54.27. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average is $45.56 and its 200 day moving average is $45.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Bank of New York Mellon had a return on equity of 10.57% and a net margin of 19.31%. Bank of New York Mellon’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. Analysts anticipate that Bank of New York Mellon Corp will post 3.98 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Friday, October 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 29.45%.

In related news, EVP Mitchell E. Harris sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $44.60, for a total value of $2,230,000.00. Following the sale, the executive vice president now directly owns 142,266 shares of the company’s stock, valued at $6,345,063.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.71% of the company’s stock.

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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