Wells Fargo & Company MN Has $136.21 Million Stake in Bank Of New York Mellon Corporation (The) (BK)

Wells Fargo & Company MN lowered its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 9.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,568,958 shares of the bank’s stock after selling 272,838 shares during the period. Wells Fargo & Company MN owned 0.25% of Bank Of New York Mellon worth $136,206,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Zeke Capital Advisors LLC raised its stake in Bank Of New York Mellon by 88.1% in the 3rd quarter. Zeke Capital Advisors LLC now owns 17,763 shares of the bank’s stock valued at $942,000 after acquiring an additional 8,320 shares during the period. Amalgamated Bank raised its stake in Bank Of New York Mellon by 1.8% in the 3rd quarter. Amalgamated Bank now owns 116,175 shares of the bank’s stock valued at $6,160,000 after acquiring an additional 2,020 shares during the period. Godshalk Welsh Capital Management Inc. bought a new stake in Bank Of New York Mellon in the 3rd quarter valued at $1,689,000. Dai Ichi Life Insurance Company Ltd raised its stake in Bank Of New York Mellon by 8.1% in the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 132,873 shares of the bank’s stock valued at $7,045,000 after acquiring an additional 10,000 shares during the period. Finally, Evergreen Capital Management LLC raised its stake in Bank Of New York Mellon by 6.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 142,451 shares of the bank’s stock valued at $7,553,000 after acquiring an additional 9,018 shares during the period. Institutional investors own 82.85% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (BK) opened at $54.45 on Friday. The firm has a market capitalization of $55,758.00, a PE ratio of 15.69, a P/E/G ratio of 1.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.69. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $55.29.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.76%. The ex-dividend date was Monday, October 30th. Bank Of New York Mellon’s dividend payout ratio (DPR) is presently 28.07%.

A number of research firms recently weighed in on BK. BidaskClub upgraded Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. UBS cut Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research note on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Bank Of New York Mellon in a report on Thursday, August 31st. 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 on the stock. Finally, Zacks Investment Research lowered Bank Of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $55.28.

In other Bank Of New York Mellon news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total value of $303,969,164.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gerald L. Hassell sold 24,280 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $51.69, for a total value of $1,255,033.20. Following the completion of the transaction, the chairman now owns 857,899 shares of the company’s stock, valued at $44,344,799.31. The disclosure for this sale can be found here. Insiders sold 7,670,182 shares of company stock worth $402,890,932 over the last ninety days. 3.60% of the stock is currently owned by insiders.

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About Bank Of New York Mellon

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.

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

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