Bank of New York Mellon Corp (BK) Shares Sold by Nomura Holdings Inc.

Nomura Holdings Inc. reduced its position in Bank of New York Mellon Corp (NYSE:BK) by 78.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,172 shares of the bank’s stock after selling 78,909 shares during the period. Nomura Holdings Inc.’s holdings in Bank of New York Mellon were worth $1,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its holdings in Bank of New York Mellon by 33.7% during the 1st quarter. Neuberger Berman Group LLC now owns 77,592 shares of the bank’s stock valued at $3,998,000 after buying an additional 19,544 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Bank of New York Mellon by 2.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,792 shares of the bank’s stock valued at $2,566,000 after buying an additional 1,171 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of Bank of New York Mellon by 4.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 85,514 shares of the bank’s stock worth $4,407,000 after purchasing an additional 3,500 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Bank of New York Mellon by 38.0% during the first quarter. Natixis Advisors L.P. now owns 152,382 shares of the bank’s stock worth $7,853,000 after purchasing an additional 41,935 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its holdings in shares of Bank of New York Mellon by 77.7% during the first quarter. Employees Retirement System of Texas now owns 250,500 shares of the bank’s stock worth $12,908,000 after purchasing an additional 109,500 shares during the last quarter. 83.36% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Raymond James cut Bank of New York Mellon from an “outperform” rating to a “market perform” rating in a report on Thursday, July 12th. Vining Sparks restated a “buy” rating and set a $62.00 price objective on shares of Bank of New York Mellon in a report on Monday, July 23rd. ValuEngine cut Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Sandler O’Neill restated a “hold” rating on shares of Bank of New York Mellon in a report on Friday, July 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $58.50.

Shares of Bank of New York Mellon stock opened at $53.39 on Monday. Bank of New York Mellon Corp has a twelve month low of $49.39 and a twelve month high of $58.99. The firm has a market capitalization of $53.39 billion, a P/E ratio of 14.83, a PEG ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, July 19th. The bank reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.01. Bank of New York Mellon had a return on equity of 11.40% and a net margin of 25.08%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities research analysts predict that Bank of New York Mellon Corp will post 4.18 EPS for the current year.

Bank of New York Mellon declared that its Board of Directors has authorized a share buyback plan on Thursday, June 28th that permits the company to repurchase $2.40 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Bank of New York Mellon

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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