Bank of New York Mellon Corp (BK) Position Increased by Smithfield Trust Co.

Smithfield Trust Co. raised its position in Bank of New York Mellon Corp (NYSE:BK) by 59.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,069 shares of the bank’s stock after purchasing an additional 11,550 shares during the quarter. Smithfield Trust Co.’s holdings in Bank of New York Mellon were worth $1,585,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Bank of New York Mellon by 123.2% during the second quarter. FMR LLC now owns 18,383,793 shares of the bank’s stock valued at $991,438,000 after purchasing an additional 10,147,809 shares in the last quarter. Longview Partners Guernsey LTD boosted its stake in shares of Bank of New York Mellon by 0.7% during the third quarter. Longview Partners Guernsey LTD now owns 17,773,813 shares of the bank’s stock valued at $906,287,000 after purchasing an additional 124,800 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Bank of New York Mellon by 0.5% during the second quarter. Artisan Partners Limited Partnership now owns 13,668,727 shares of the bank’s stock valued at $737,154,000 after purchasing an additional 63,107 shares in the last quarter. Morgan Stanley boosted its stake in shares of Bank of New York Mellon by 66.0% during the second quarter. Morgan Stanley now owns 8,460,980 shares of the bank’s stock valued at $456,300,000 after purchasing an additional 3,363,091 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its stake in shares of Bank of New York Mellon by 13.2% during the second quarter. Vulcan Value Partners LLC now owns 7,871,202 shares of the bank’s stock valued at $424,494,000 after purchasing an additional 918,540 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of BK opened at $48.79 on Friday. The company has a market capitalization of $48.32 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.50 and a beta of 1.04. Bank of New York Mellon Corp has a twelve month low of $45.16 and a twelve month high of $58.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Thursday, October 18th. The bank reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.15 billion. Bank of New York Mellon had a net margin of 24.92% and a return on equity of 11.48%. Bank of New York Mellon’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. On average, equities analysts predict that Bank of New York Mellon Corp will post 4.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Tuesday, October 30th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, October 29th. This represents a $1.12 annualized dividend and a dividend yield of 2.30%. Bank of New York Mellon’s payout ratio is currently 31.11%.

A number of equities analysts have recently issued reports on the stock. Sandler O’Neill reiterated a “hold” rating on shares of Bank of New York Mellon in a research note on Friday, July 13th. Vining Sparks reiterated a “buy” rating and set a $62.00 price objective on shares of Bank of New York Mellon in a research note on Monday, July 23rd. ValuEngine downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Keefe, Bruyette & Woods set a $56.00 target price on shares of Bank of New York Mellon and gave the company a “hold” rating in a research note on Thursday, July 19th. Finally, Raymond James downgraded shares of Bank of New York Mellon from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $58.38.

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Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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

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