Global Trust Asset Management LLC reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,834 shares of the bank’s stock after selling 480 shares during the quarter. Global Trust Asset Management LLC’s holdings in The Bank of New York Mellon were worth $120,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in BK. ELM Advisors LLC purchased a new stake in The Bank of New York Mellon in the 4th quarter worth approximately $41,000. McIlrath & Eck LLC grew its position in shares of The Bank of New York Mellon by 65.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,511 shares of the bank’s stock valued at $52,000 after acquiring an additional 598 shares during the period. First Command Bank raised its holdings in The Bank of New York Mellon by 378.8% in the 3rd quarter. First Command Bank now owns 1,719 shares of the bank’s stock worth $59,000 after purchasing an additional 1,360 shares during the period. Cerebellum GP LLC acquired a new position in The Bank of New York Mellon in the 3rd quarter worth about $61,000. Finally, Horan Capital Advisors LLC. purchased a new position in The Bank of New York Mellon during the third quarter worth approximately $74,000. 82.27% of the stock is owned by institutional investors.
Shares of The Bank of New York Mellon stock opened at $46.32 on Thursday. The stock has a market capitalization of $41.05 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $41.52 and a 200 day moving average of $37.86. The Bank of New York Mellon Co. has a 12 month low of $26.40 and a 12 month high of $51.21.
The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 16th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.04. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 3.96 earnings per share for the current year.
BK has been the subject of several research analyst reports. Barclays upped their target price on The Bank of New York Mellon from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, January 4th. Smith Barney Citigroup raised shares of The Bank of New York Mellon from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $57.00 in a research note on Monday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of The Bank of New York Mellon from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $57.00 in a research report on Monday. TheStreet raised shares of The Bank of New York Mellon from a “c+” rating to a “b-” rating in a research note on Tuesday, December 1st. Finally, Bank of America cut shares of The Bank of New York Mellon from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $42.00 to $39.00 in a research note on Friday, November 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $47.18.
The Bank of New York Mellon Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. The Investment Service segment offers custody, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, trading, investment, wealth and retirement solutions, technology and enterprise data management, corporate trust, depositary receipts, payments, receivables processing and payables management, trade finance and processing, and collateral management services.
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