Investors Sell Bank Of New York Mellon (BK) on Strength (BK)

Investors sold shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) on strength during trading hours on Thursday. $25.83 million flowed into the stock on the tick-up and $40.10 million flowed out of the stock on the tick-down, for a money net flow of $14.27 million out of the stock. Of all equities tracked, Bank Of New York Mellon had the 31st highest net out-flow for the day. Bank Of New York Mellon traded up $0.28 for the day and closed at $54.12

A number of research analysts have recently commented on the company. UBS Group downgraded Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research report on Friday, September 8th. Royal Bank of Canada restated a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon in a research report on Thursday, August 31st. Zacks Investment Research downgraded Bank Of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Jefferies Group restated a “hold” rating on shares of Bank Of New York Mellon in a research report on Friday, October 20th. Finally, Citigroup restated a “neutral” rating and issued a $56.00 price target (up from $53.00) on shares of Bank Of New York Mellon in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $55.28.

The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The company has a market cap of $55,630.00, a P/E ratio of 15.92, a PEG ratio of 1.97 and a beta of 1.22.

Bank Of New York Mellon (NYSE:BK) last posted its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share (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 company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. equities research analysts forecast that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current year.

In other Bank Of New York Mellon 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 value of $2,065,930.80. Following the transaction, the chief financial officer now owns 310,002 shares in the company, valued at $16,786,608.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward P. Garden sold 1,031,157 shares of Bank Of New York Mellon stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $53.13, for a total value of $54,785,371.41. The disclosure for this sale can be found here. Insiders sold 7,708,334 shares of company stock worth $404,956,863 in the last quarter. 3.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vantage Financial Partners Ltd. Inc. acquired a new stake in Bank Of New York Mellon in the second quarter worth about $1,139,000. Invictus RG acquired a new stake in Bank Of New York Mellon in the third quarter worth about $102,000. First Interstate Bank boosted its holdings in Bank Of New York Mellon by 56.2% in the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after acquiring an additional 842 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in Bank Of New York Mellon by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after acquiring an additional 7 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in Bank Of New York Mellon in the third quarter worth about $139,000. 82.92% of the stock is owned by institutional investors and hedge funds.

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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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