Bank Of New York Mellon Corporation (The) (BK) Shares Bought by Gofen & Glossberg LLC IL

Gofen & Glossberg LLC IL boosted its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 2.6% during the first quarter, Holdings Channel reports. The firm owned 61,382 shares of the bank’s stock after buying an additional 1,584 shares during the period. Gofen & Glossberg LLC IL’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,899,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Capital Guardian Trust Co. boosted its stake in Bank Of New York Mellon Corporation (The) by 0.9% in the fourth quarter. Capital Guardian Trust Co. now owns 946,355 shares of the bank’s stock worth $44,838,000 after buying an additional 8,670 shares during the period. First Commonwealth Financial Corp PA purchased a new stake in Bank Of New York Mellon Corporation (The) during the fourth quarter worth approximately $206,000. Barings LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 225.2% in the fourth quarter. Barings LLC now owns 56,752 shares of the bank’s stock worth $2,689,000 after buying an additional 39,300 shares during the period. CAMG Solamere Management LLC purchased a new stake in Bank Of New York Mellon Corporation (The) during the fourth quarter worth approximately $384,000. Finally, Boothbay Fund Management LLC purchased a new stake in Bank Of New York Mellon Corporation (The) during the fourth quarter worth approximately $365,000. Institutional investors own 82.05% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 51.75 on Monday. Bank Of New York Mellon Corporation has a 1-year low of $38.11 and a 1-year high of $52.34. The company has a market cap of $53.81 billion, a price-to-earnings ratio of 15.92 and a beta of 1.14. The stock has a 50 day moving average price of $48.27 and a 200-day moving average price of $47.32.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings results on Thursday, April 20th. The bank reported $0.80 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.80. Bank Of New York Mellon Corporation (The) had a return on equity of 9.97% and a net margin of 23.12%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the business earned $0.74 EPS. Bank Of New York Mellon Corporation (The)’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Bank Of New York Mellon Corporation will post $3.51 EPS for the current year.

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A number of analysts recently commented on the company. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Zacks Investment Research cut Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Rafferty Capital Markets reiterated a “buy” rating and set a $53.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, April 25th. Bank of America Corporation set a $49.00 price objective on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Saturday, May 27th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $52.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.93.

In related news, Vice Chairman Thomas P. Gibbons sold 102,174 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $47.71, for a total value of $4,874,721.54. Following the completion of the transaction, the insider now owns 271,416 shares in the company, valued at approximately $12,949,257.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 10,000 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $47.64, for a total value of $476,400.00. Following the completion of the transaction, the executive vice president now owns 100,487 shares of the company’s stock, valued at approximately $4,787,200.68. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

About Bank Of New York Mellon Corporation (The)

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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank Of New York Mellon Corporation (The) (NYSE:BK).

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

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