[ad_1]
Garland Capital Management Inc. reduced its stake in Bank of New York Mellon Corp. (NYSE: BK) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC) .The fund held 87,805 shares of the bank after the sale of 4,400 shares during the quarter. New York Mellon Bank represents 3.3% Garland Capital Management Inc. held a stake of 4 $ 735,000 in Garland Capital Management Inc. on the date of its last filing with the Securities and Exchange Commission (SEC).
Several other hedge funds recently changed their position in the company: Trian Fund Management LP increased its interest in Bank of New York Mellon shares by 2.3% in the first quarter, and Trian Fund Management LP It now holds 16,136,596 shares of the bank's shares valued at $ 831,519,000 after the acquisition of 360,164 additional shares during the last quarter. Artisan Partners Limited Partnership increased its interest in Bank of New York Mellon shares by 1.0% in the first quarter. Artisan Partners Limited Partnership now holds 13,605,620 shares of the bank valued at $ 701,098,000 after acquiring 134,673 additional shares in the last quarter. Fiduciary Management Inc. WI increased its position in Bank of New York Mellon shares by 1.0% in the first quarter. Fiduciary Management Inc. WI now holds 8,125,128 shares of the bank valued at $ 418,688,000 after purchasing 80,755 additional shares during the period. Schwab Charles Investment Management Inc. increased its position in Bank of New York Mellon shares by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now holds 3,631,240 shares of the bank valued at $ 187,118,000 after purchasing 62,912 additional shares during the period. Finally, LSV Asset Management increased its position in Bank of New York Mellon shares by 195.3% in the first quarter. LSV Asset Management now holds 3,403,100 shares of the bank valued at $ 175,361,000 after purchasing 2,250,655 additional shares during the period. 82.09% of the shares are held by institutional investors.
Incidentally, Mitchell E. Harris, an insider, sold 48,000 shares of the company during a transaction that occurred on Monday, April 23. The stock was sold at an average price of $ 56.00, for a total transaction of $ 2,688,000.00. As a result of the sale, the insider now owns 166,810 shares of the company, valued at approximately $ 9,341,360. The sale was disclosed in a document filed with the SEC, which is available on the SEC's website. In addition, Kurtis R. Kurimsky, an insider, sold 4,701 shares of the company during a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $ 57.44, for a total value of $ 270,025.44. As a result of the sale, the insider now owns 16,487 shares of the company, valued at approximately $ 947,013.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,701 shares valued at $ 3,796,375. Insiders own 1.76% of the shares of the company.
Several stock analysts have recently published reports on BK shares. ValuEngine lowered Bank of New York Mellon from a "buy" rating to a "hold" note in a research report on Monday, April 2nd. Deutsche Bank lowered its price target on Bank of New York Mellon from $ 64.00 to $ 60.00 and set a "buy" rating for the company in a research report on Friday, April 6th. Sandler O'Neill reiterated a "hold" note and issued a $ 54.00 price target on Bank of New York Mellon shares in a research report on Monday, April 9. Morgan Stanley increased its price target on Bank of New York Mellon from $ 66.00 to $ 68.00 and gave the company a rating of "overweight" in a research report on Friday, April 20th. Finally, Credit Suisse Group raised its Bank of New York Mellon price target from $ 57.00 to $ 58.00 and awarded the company a "neutral" rating in a research report on Friday, April 20th. A stock research analyst rated the stock with a sales note, thirteen assigned a reserve rating and five awarded a purchase note to the stock. The company has an average rating of "Hold" and an average price target of $ 58.41.
Bank of New York Mellon fell $ 0.47 to $ 53.03 during trading hours on Friday, according to reports by MarketBeat Ratings. 4,102,140 shares were exchanged for an average volume of 3,992,766 shares. The New York Mellon Corp. Bank has a twelve-month low of $ 49.39 and a twelve-month high of $ 58.99. The company has a ratio of 0.71, a ratio of 0.71 and a debt ratio of 0.77. The company has a market capitalization of $ 53.96 billion, a P / E ratio of 14.73, a price / earnings ratio of 1.62 and a beta of 1.17.
The New York Mellon Bank (NYSE: BK) last published its quarterly results on Thursday, April 19. The bank reported earnings per share of $ 1.10 for the quarter, leading consensus analyst estimates of $ 0.96 per $ 0.14. New York Mellon Bank recorded a return on equity of 11.27% and a net margin of 25.20%. The company achieved a turnover of $ 4.18 billion during the quarter, compared to the consensus estimate of $ 4.04 billion. In the same quarter of the previous year, the company posted earnings per share of $ 0.83. Company revenues increased 8.7% from one year to the next. Analysts predict that the New York Mellon Corp. Bank will post 4.26 earnings per share for the current fiscal year.
Mellon Bank of New York announced that its board of directors initiated a share buyback program on Thursday, June 28, which authorizes the company to buy back $ 2.40 billion worth of shares. shares outstanding. This repurchase authorization authorizes the bank to acquire up to 4.4% of its shares through free market purchases. Stock repurchase programs often indicate that company executives feel their stock is undervalued.
About Bank of New York Mellon
The New York Bank Mellon Corporation provides a range of financial products and services to institutions, corporations and high net worth individuals in the United States and Canada. l & # 39; abroad. The company operates through two segments, Investment Management and Investment Services. It provides investment management, custodial, foreign exchange, brokerage, guarantee and liquidity, clearing, trust, aggregate payment, commercial financing, cash management and securities financing services. and certificates of deposit. Want to see what other hedge funds hold BK? Visit HoldingsChannel.com to get the latest deposits and 13F insider trading for the New York Mellon Corp. Bank. (NYSE: BK).
Receive news and updates for Bank of New York Mellon Daily – Enter your email address below to receive a free quote concise daily summary of the latest news and analyst ratings for Bank of New York Mellon and related companies with MarketBeat.com's free daily e-newsletter.
Source link
