ARP Americas LP purchased a new position in Bank of New York Mellon Corp (NYSE:BK) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 17,300 shares of the bank’s stock, valued at approximately $932,000.
Other large investors also recently modified their holdings of the company. Invictus RG acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $102,000. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $120,000. Rowland & Co. Investment Counsel ADV acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $124,000. Advisory Services Network LLC lifted its stake in shares of Bank of New York Mellon by 15.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after acquiring an additional 363 shares during the period. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $139,000. 83.71% of the stock is owned by institutional investors.
In other news, CFO Thomas P. Gibbons sold 38,152 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the sale, the chief financial officer now owns 310,002 shares in the company, valued at $16,786,608.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is owned by insiders.
Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.91. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. analysts forecast that Bank of New York Mellon Corp will post 4.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Tuesday, January 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, January 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.70%. Bank of New York Mellon’s dividend payout ratio is currently 31.58%.
A number of analysts recently commented on BK shares. Barclays boosted their target price on shares of Bank of New York Mellon from $55.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, November 15th. Sandler O’Neill reiterated a “hold” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Friday, January 19th. JPMorgan Chase & Co. downgraded shares of Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 target price on the stock. in a report on Friday, January 19th. Finally, Vining Sparks reiterated a “buy” rating and issued a $62.00 target price on shares of Bank of New York Mellon in a report on Monday, January 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.76.
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About Bank of New York Mellon
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.
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