D.A. Davidson & CO. Buys 3,061 Shares of Bank of New York Mellon Corp (BK)

D.A. Davidson & CO. increased its stake in shares of Bank of New York Mellon Corp (NYSE:BK) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,715 shares of the bank’s stock after purchasing an additional 3,061 shares during the period. D.A. Davidson & CO.’s holdings in Bank of New York Mellon were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of BK. Capital International Investors raised its position in Bank of New York Mellon by 120.8% in the third quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock worth $1,221,846,000 after acquiring an additional 12,607,183 shares in the last quarter. American Century Companies Inc. raised its position in Bank of New York Mellon by 39.2% in the third quarter. American Century Companies Inc. now owns 6,008,434 shares of the bank’s stock worth $318,567,000 after acquiring an additional 1,691,889 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Bank of New York Mellon by 118.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,722,972 shares of the bank’s stock worth $91,352,000 after acquiring an additional 932,700 shares in the last quarter. Longview Partners Guernsey LTD raised its position in Bank of New York Mellon by 5.2% in the third quarter. Longview Partners Guernsey LTD now owns 17,381,984 shares of the bank’s stock worth $921,593,000 after acquiring an additional 862,800 shares in the last quarter. Finally, Capital Bank & Trust Co raised its position in Bank of New York Mellon by 73.3% in the third quarter. Capital Bank & Trust Co now owns 1,755,122 shares of the bank’s stock worth $93,057,000 after acquiring an additional 742,148 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on BK. Vining Sparks reiterated a “hold” rating and issued a $60.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 24th. Morgan Stanley increased their price objective on Bank of New York Mellon from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Barclays reiterated a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Citigroup upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. cut Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price objective for the company. in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $56.76.

In related news, CFO Thomas P. Gibbons sold 38,152 shares of Bank of New York Mellon stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the completion of the sale, the chief financial officer now owns 310,002 shares in the company, valued at approximately $16,786,608.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward P. Garden sold 143,792 shares of Bank of New York Mellon stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total value of $7,551,955.84. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Bank of New York Mellon Corp (NYSE:BK) opened at $56.25 on Monday. Bank of New York Mellon Corp has a 52-week low of $45.12 and a 52-week high of $58.99. The firm has a market capitalization of $57,006.11, a price-to-earnings ratio of 15.58, a PEG ratio of 1.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. sell-side analysts forecast that Bank of New York Mellon Corp will post 4.06 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Tuesday, January 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is currently 25.74%.

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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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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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