Douglass Winthrop Advisors LLC Acquires 13,000 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Douglass Winthrop Advisors LLC grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 65.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,954 shares of the bank’s stock after acquiring an additional 13,000 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Bank of New York Mellon were worth $1,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Bank of New York Mellon by 18.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 154,543 shares of the bank’s stock worth $7,917,000 after buying an additional 23,764 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Bank of New York Mellon by 24.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 22,990 shares of the bank’s stock worth $1,176,000 after buying an additional 4,573 shares during the period. Empirical Finance LLC boosted its holdings in Bank of New York Mellon by 15.4% in the 2nd quarter. Empirical Finance LLC now owns 9,862 shares of the bank’s stock worth $505,000 after buying an additional 1,319 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Bank of New York Mellon by 4.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,064,958 shares of the bank’s stock valued at $54,558,000 after purchasing an additional 41,730 shares during the last quarter. Finally, Mission Wealth Management LP boosted its holdings in shares of Bank of New York Mellon by 2.2% during the 2nd quarter. Mission Wealth Management LP now owns 14,363 shares of the bank’s stock valued at $736,000 after purchasing an additional 314 shares during the last quarter. 83.29% of the stock is owned by hedge funds and other institutional investors.

BK has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Monday. Credit Suisse Group upped their target price on shares of Bank of New York Mellon from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 20th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, October 25th. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 20th. Finally, Citigroup increased their price objective on shares of Bank of New York Mellon from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Buy” and an average target price of $61.13.

Shares of BK traded down $0.54 during mid-day trading on Friday, hitting $63.11. The company had a trading volume of 58,672 shares, compared to its average volume of 3,860,459. The Bank of New York Mellon Co. has a 1-year low of $39.46 and a 1-year high of $64.53. The business’s 50-day simple moving average is $58.39 and its 200-day simple moving average is $55.13. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock has a market cap of $52.12 billion, a PE ratio of 16.20, a P/E/G ratio of 2.28 and a beta of 1.17.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Monday, October 18th. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Bank of New York Mellon had a net margin of 22.75% and a return on equity of 9.37%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 4.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Monday, November 1st were paid a dividend of $0.34 per share. The ex-dividend date was Friday, October 29th. This represents a $1.36 annualized dividend and a yield of 2.15%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 34.61%.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Investment Services and Investment and Wealth Management. The Investment Services and Investment segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange.

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

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