Laurel Wealth Advisors Inc. Takes $218,000 Position in Bank Of New York Mellon Corporation (The) (BK)

Laurel Wealth Advisors Inc. acquired a new stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,124 shares of the bank’s stock, valued at approximately $218,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Bank Of New York Mellon 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 purchasing an additional 1,071,088 shares during the last quarter. Berkshire Hathaway Inc. boosted its stake in shares of Bank Of New York Mellon 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 purchasing an additional 17,217,529 shares during the last quarter. Capital International Investors boosted its stake in shares of Bank Of New York Mellon 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 purchasing an additional 12,607,183 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Bank Of New York Mellon 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 purchasing an additional 271,858 shares during the last quarter. Finally, Longview Partners Guernsey LTD boosted its stake in shares of Bank Of New York Mellon by 5.2% in the 3rd quarter. Longview Partners Guernsey LTD now owns 17,381,984 shares of the bank’s stock valued at $921,593,000 after purchasing an additional 862,800 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Citigroup reiterated a “neutral” rating and set a $56.00 target price (up previously from $53.00) on shares of Bank Of New York Mellon in a research report on Monday, October 9th. Jefferies Group reiterated a “hold” rating on shares of Bank Of New York Mellon in a research report on Friday, October 20th. Credit Suisse Group reiterated a “hold” rating and set a $55.00 target price on shares of Bank Of New York Mellon in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of Bank Of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $55.28.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at $54.54 on Tuesday. Bank Of New York Mellon Corporation has a one year low of $43.85 and a one year high of $55.40. 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 cap of $55,983.28, a price-to-earnings ratio of 15.76, a PEG ratio of 1.99 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, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. research analysts expect that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current year.

In other news, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $54.15, for a total value 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 accessible through this hyperlink. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the stock in a transaction dated Friday, November 3rd. The shares were 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 approximately $9,319,836.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,708,334 shares of company stock valued at $404,956,863. Company insiders own 3.60% of the company’s stock.

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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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