Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 741,534 shares of the bank’s stock after purchasing an additional 3,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of Bank Of New York Mellon worth $39,482,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Country Trust Bank boosted its stake in Bank Of New York Mellon by 4.1% in the third quarter. Country Trust Bank now owns 606,030 shares of the bank’s stock worth $32,132,000 after purchasing an additional 23,683 shares in the last quarter. Toronto Dominion Bank boosted its stake in Bank Of New York Mellon by 24.7% in the second quarter. Toronto Dominion Bank now owns 364,150 shares of the bank’s stock worth $18,577,000 after purchasing an additional 72,058 shares in the last quarter. MUFG Americas Holdings Corp boosted its stake in Bank Of New York Mellon by 5.3% in the second quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock worth $13,469,000 after purchasing an additional 13,228 shares in the last quarter. Sei Investments Co. raised its position in shares of Bank Of New York Mellon by 7.4% during the third quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock worth $54,102,000 after acquiring an additional 70,619 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of Bank Of New York Mellon during the second quarter worth $304,000. 82.83% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on BK. ValuEngine upgraded Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup restated a “neutral” rating and set a $56.00 target price (up previously from $53.00) on shares of Bank Of New York Mellon in a research report on Monday, October 9th. Jefferies Group restated a “hold” rating on shares of Bank Of New York Mellon in a research report on Friday, October 20th. Credit Suisse Group restated a “hold” rating and set a $55.00 target price on shares of Bank Of New York Mellon in a research report on Tuesday, October 10th. Finally, Wells Fargo & Company began coverage on Bank Of New York Mellon in a report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Bank Of New York Mellon currently has a consensus rating of “Hold” and an average target price of $55.28.
Bank Of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that Bank Of New York Mellon Corporation will post 3.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were given a dividend of $0.24 per share. The ex-dividend date was Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 1.76%. Bank Of New York Mellon’s dividend payout ratio (DPR) is presently 28.07%.
In other Bank Of New York Mellon news, Director Edward P. Garden sold 1,031,157 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $53.13, for a total value of $54,785,371.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.26, for a total value of $1,139,407.28. Following the completion of the sale, the insider now owns 181,815 shares in the company, valued at approximately $9,319,836.90. The disclosure for this sale can be found here. Insiders have sold 7,708,334 shares of company stock valued at $404,956,863 over the last three months. Insiders own 3.60% of the company’s stock.
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Bank Of New York Mellon 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.
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