Financial Architects Inc decreased its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 70.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,277 shares of the bank’s stock after selling 12,504 shares during the period. Financial Architects Inc’s holdings in Bank Of New York Mellon Corporation (The) were worth $269,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of BK. Benson Investment Management Company Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 0.7% in the first quarter. Benson Investment Management Company Inc. now owns 42,795 shares of the bank’s stock valued at $2,021,000 after buying an additional 300 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in Bank Of New York Mellon Corporation (The) during the first quarter valued at $260,000. Atria Investments LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 16.4% in the first quarter. Atria Investments LLC now owns 6,075 shares of the bank’s stock valued at $287,000 after buying an additional 855 shares in the last quarter. Alpha Windward LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 0.4% in the first quarter. Alpha Windward LLC now owns 5,648 shares of the bank’s stock valued at $267,000 after buying an additional 24 shares in the last quarter. Finally, Regentatlantic Capital LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 5.9% in the first quarter. Regentatlantic Capital LLC now owns 4,717 shares of the bank’s stock valued at $223,000 after buying an additional 264 shares in the last quarter. 82.51% of the stock is owned by institutional investors and hedge funds.
Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up 0.37% during mid-day trading on Friday, hitting $54.02. 3,150,929 shares of the stock traded hands. The stock has a market cap of $55.81 billion, a price-to-earnings ratio of 16.02 and a beta of 1.15. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.59. The firm’s 50-day moving average is $51.59 and its 200-day moving average is $48.08.
Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. On average, analysts forecast that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.
Bank Of New York Mellon Corporation (The) declared that its board has initiated a stock buyback plan on Wednesday, June 28th that allows the company to buyback $3.10 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, July 28th. This is a boost from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a dividend yield of 1.78%. Bank Of New York Mellon Corporation (The)’s payout ratio is 28.40%.
COPYRIGHT VIOLATION NOTICE: “Bank Of New York Mellon Corporation (The) (BK) Stake Cut by Financial Architects Inc” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://stocknewstimes.com/2017/08/05/bank-of-new-york-mellon-corporation-the-bk-stake-cut-by-financial-architects-inc.html.
Several research firms recently weighed in on BK. Deutsche Bank AG upped their price objective on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Bank of America Corporation set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. 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. Finally, BidaskClub cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.00.
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).
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.
