Carret Asset Management LLC Has $1.62 Million Stake in Bank of New York Mellon Corp (BK)

Carret Asset Management LLC lessened its position in Bank of New York Mellon Corp (NYSE:BK) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,830 shares of the bank’s stock after selling 2,000 shares during the period. Carret Asset Management LLC’s holdings in Bank of New York Mellon were worth $1,623,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BK. Credit Suisse AG grew its stake in Bank of New York Mellon by 13.6% during the third quarter. Credit Suisse AG now owns 1,257,629 shares of the bank’s stock worth $64,127,000 after buying an additional 150,219 shares during the period. Loeb Partners Corp grew its stake in Bank of New York Mellon by 0.9% during the third quarter. Loeb Partners Corp now owns 157,000 shares of the bank’s stock worth $7,993,000 after buying an additional 1,400 shares during the period. Cypress Capital Management LLC grew its stake in Bank of New York Mellon by 3.1% during the third quarter. Cypress Capital Management LLC now owns 184,685 shares of the bank’s stock worth $9,417,000 after buying an additional 5,620 shares during the period. FMR LLC grew its stake in Bank of New York Mellon by 30.1% during the third quarter. FMR LLC now owns 23,914,735 shares of the bank’s stock worth $1,219,412,000 after buying an additional 5,530,942 shares during the period. Finally, Vantage Investment Advisors LLC grew its stake in Bank of New York Mellon by 9.3% during the third quarter. Vantage Investment Advisors LLC now owns 96,975 shares of the bank’s stock worth $4,945,000 after buying an additional 8,254 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

BK has been the subject of several research reports. Zacks Investment Research downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Keefe, Bruyette & Woods downgraded shares of Bank of New York Mellon from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $55.00 to $49.00 in a research note on Friday, October 19th. Citigroup decreased their target price on shares of Bank of New York Mellon from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, October 19th. Deutsche Bank upped their target price on shares of Bank of New York Mellon from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Finally, Wolfe Research initiated coverage on shares of Bank of New York Mellon in a research note on Tuesday, September 25th. They issued an “underperform” rating for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.77.

Shares of BK stock opened at $49.96 on Friday. The firm has a market capitalization of $49.40 billion, a PE ratio of 13.88, a PEG ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. Bank of New York Mellon Corp has a twelve month low of $45.16 and a twelve month high of $58.99.

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 consensus estimate of $1.04 by $0.02. The business 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%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, research analysts predict that Bank of New York Mellon Corp will post 4.17 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Tuesday, October 30th were paid a $0.28 dividend. The ex-dividend date was Monday, October 29th. This represents a $1.12 annualized dividend and a dividend yield of 2.24%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 31.11%.

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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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