Bank Of New York Mellon Corporation (The) (BK) Position Raised by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. boosted its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,993 shares of the bank’s stock after purchasing an additional 2,751 shares during the period. Bank Of New York Mellon accounts for approximately 3.1% of Richard C. Young & CO. LTD.’s holdings, making the stock its 5th largest holding. Richard C. Young & CO. LTD.’s holdings in Bank Of New York Mellon were worth $16,489,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hudock Capital Group LLC increased its stake in shares of Bank Of New York Mellon by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after buying an additional 7 shares during the period. Kistler Tiffany Companies LLC increased its stake in shares of Bank Of New York Mellon by 0.3% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock valued at $212,000 after buying an additional 12 shares during the period. CHICAGO TRUST Co NA increased its stake in shares of Bank Of New York Mellon by 0.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after buying an additional 29 shares during the period. Cpcm LLC increased its stake in shares of Bank Of New York Mellon by 0.4% in the 1st quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock valued at $458,000 after buying an additional 35 shares during the period. Finally, First Bank & Trust increased its stake in shares of Bank Of New York Mellon by 1.1% in the 2nd quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock valued at $245,000 after buying an additional 52 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on BK shares. Zacks Investment Research cut Bank Of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon in a research note on Thursday, August 31st. UBS AG cut Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Friday, September 8th. Goldman Sachs Group Inc reaffirmed a “buy” rating and set a $58.00 price objective (up from $52.85) on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $56.00 price objective on shares of Bank Of New York Mellon in a research note on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Bank Of New York Mellon has a consensus rating of “Hold” and a consensus price target of $55.28.

In other news, Chairman Gerald L. Hassell sold 24,280 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total value of $1,255,033.20. Following the sale, the chairman now directly owns 857,899 shares in the company, valued at $44,344,799.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward P. Garden sold 1,031,157 shares of the business’s stock in a transaction dated 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. Over the last quarter, insiders have sold 7,670,182 shares of company stock worth $402,890,932. Corporate insiders own 3.60% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE BK) opened at $52.23 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $53,484.67, a PE ratio of 15.05, a price-to-earnings-growth ratio of 1.90 and a beta of 1.22. Bank Of New York Mellon Corporation has a twelve month low of $43.85 and a twelve month high of $55.29.

Bank Of New York Mellon (NYSE:BK) last posted its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. equities analysts predict that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

The firm also recently announced 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 was Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 1.84%. Bank Of New York Mellon’s dividend payout ratio is presently 28.07%.

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Bank Of New York Mellon 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.

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

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