Bank Of New York Mellon Corporation (The) (BK) Holdings Reduced by AMG National Trust Bank

AMG National Trust Bank decreased its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,968 shares of the bank’s stock after selling 509 shares during the period. AMG National Trust Bank’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hudock Capital Group LLC grew its position in Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd 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 last quarter. Kistler Tiffany Companies LLC grew its position in Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock worth $212,000 after purchasing an additional 12 shares during the last quarter. CHICAGO TRUST Co NA grew its position in Bank Of New York Mellon Corporation (The) by 0.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock worth $307,000 after purchasing an additional 29 shares during the last quarter. Cpcm LLC grew its position in Bank Of New York Mellon Corporation (The) by 0.4% in the 1st quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock worth $458,000 after purchasing an additional 35 shares during the last quarter. Finally, First Bank & Trust grew its position in Bank Of New York Mellon Corporation (The) by 1.1% in the 2nd quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock worth $245,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

BK has been the subject of several recent analyst reports. Bank of America Corporation restated an “underperform” rating and issued a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, May 26th. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research cut shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Buckingham Research restated a “neutral” rating and issued a $57.00 target price (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.59.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at 51.14 on Friday. The company’s 50-day moving average is $52.46 and its 200 day moving average is $49.50. The firm has a market capitalization of $52.84 billion, a price-to-earnings ratio of 15.17 and a beta of 1.14. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company posted $0.76 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. On average, analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

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

In other news, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the completion of the sale, the insider now owns 204,043 shares in the company, valued at approximately $10,793,874.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles W. Scharf purchased 186,900 shares of the stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average price of $53.82 per share, with a total value of $10,058,958.00. Following the transaction, the chief executive officer now owns 73,640 shares in the company, valued at $3,963,304.80. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. 3.60% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: This article was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/09/15/bank-of-new-york-mellon-corporation-the-bk-holdings-reduced-by-amg-national-trust-bank.html.

Bank Of New York Mellon Corporation (The) Company 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