Bank Of New York Mellon Corporation (The) (BK) Short Interest Update

Bank Of New York Mellon Corporation (The) (NYSE:BK) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 15,740,026 shares, a growth of 21.5% from the October 13th total of 12,955,040 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 5,024,837 shares, the short-interest ratio is currently 3.1 days.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Brian T. Shea sold 22,228 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was 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 in the company, valued at $9,319,836.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward P. Garden sold 1,031,157 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $53.13, for a total value of $54,785,371.41. The disclosure for this sale can be found here. Insiders sold 6,876,390 shares of company stock worth $361,148,976 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BK. BlackRock Inc. lifted its holdings in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% during the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after acquiring an additional 55,073,730 shares during the period. Berkshire Hathaway Inc. lifted its holdings in shares of Bank Of New York Mellon Corporation (The) by 52.2% during the second quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock valued at $2,562,715,000 after acquiring an additional 17,217,529 shares during the period. Capital International Investors lifted its holdings in shares of Bank Of New York Mellon Corporation (The) by 120.8% during the third quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock valued at $1,221,846,000 after acquiring an additional 12,607,183 shares during the period. New England Asset Management Inc. lifted its holdings in shares of Bank Of New York Mellon Corporation (The) by 92,225.0% during the first quarter. New England Asset Management Inc. now owns 3,693,000 shares of the bank’s stock valued at $174,420,000 after acquiring an additional 3,689,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bank Of New York Mellon Corporation (The) by 1,303.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,624,187 shares of the bank’s stock valued at $133,886,000 after acquiring an additional 2,437,230 shares during the period. 82.73% of the stock is owned by institutional investors.

Several equities analysts have commented on BK shares. UBS AG downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Friday, September 8th. Zacks Investment Research upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, July 24th. Morgan Stanley increased their price target on Bank Of New York Mellon Corporation (The) from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $58.00 price objective (up from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, October 20th. Finally, Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Bank Of New York Mellon Corporation (The) has an average rating of “Hold” and a consensus target price of $55.28.

Bank Of New York Mellon Corporation (NYSE:BK) opened at $52.47 on Friday. The company has a market capitalization of $54,210.00, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.95 and a beta of 1.21. Bank Of New York Mellon Corporation has a 12-month low of $43.85 and a 12-month high of $55.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.69.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. analysts predict that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.83%. Bank Of New York Mellon Corporation (The)’s payout ratio is presently 28.24%.

TRADEMARK VIOLATION WARNING: This piece was published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://transcriptdaily.com/2017/11/18/bank-of-new-york-mellon-corporation-the-bk-short-interest-update.html.

Bank Of New York Mellon Corporation (The) 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.

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply