Bank Of New York Mellon Corporation (The) (BK) Short Interest Up 21.5% in October

Bank Of New York Mellon Corporation (The) (NYSE:BK) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 15,740,026 shares, a growth of 21.5% from the October 13th total of 12,955,040 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 5,024,837 shares, the short-interest ratio is currently 3.1 days.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at $51.85 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $53,570.00, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.92 and a beta of 1.21. Bank Of New York Mellon Corporation has a 1-year low of $43.85 and a 1-year high of $55.29.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. research analysts forecast that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were issued a $0.24 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.85%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.24%.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total transaction of $1,139,407.28. Following the transaction, the insider now owns 181,815 shares of the company’s stock, valued at $9,319,836.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total value of $303,969,164.50. The disclosure for this sale can be found here. Insiders sold 6,876,390 shares of company stock worth $361,148,976 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock valued at $3,439,792,000 after buying an additional 1,071,088 shares during the period. BlackRock Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% in the 1st quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after buying an additional 55,073,730 shares during the period. Berkshire Hathaway Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 52.2% in the 2nd quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock valued at $2,562,715,000 after buying an additional 17,217,529 shares during the period. Capital International Investors raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 120.8% in the 3rd quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock valued at $1,221,846,000 after buying an additional 12,607,183 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 1.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 19,753,288 shares of the bank’s stock valued at $1,047,319,000 after buying an additional 271,858 shares during the period. Hedge funds and other institutional investors own 82.73% of the company’s stock.

BK has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. Zacks Investment Research lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. UBS AG lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $58.00 price objective (up previously from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, October 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $56.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Hold” and a consensus target price of $55.28.

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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.

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