Bank Of New York Mellon Corp. (NYSE:BK) – Jefferies Group increased their Q3 2016 EPS estimates for shares of Bank Of New York Mellon Corp. in a note issued to investors on Monday. Jefferies Group analyst K. Usdin now expects that the brokerage will earn $0.80 per share for the quarter, up from their prior estimate of $0.79. Jefferies Group currently has a “Hold” rating and a $38.00 target price on the stock. Jefferies Group also issued estimates for Bank Of New York Mellon Corp.’s Q4 2016 earnings at $0.70 EPS.

Bank Of New York Mellon Corp. (NYSE:BK) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.79 billion. Bank Of New York Mellon Corp. had a net margin of 20.86% and a return on equity of 9.31%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS.

Earnings History and Estimates for Bank Of New York Mellon Corp. (NYSE:BK)

A number of other research analysts have also recently weighed in on BK. Deutsche Bank AG dropped their target price on shares of Bank Of New York Mellon Corp. from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Buckingham Research reiterated a “buy” rating on shares of Bank Of New York Mellon Corp. in a research note on Tuesday, June 21st. Zacks Investment Research cut shares of Bank Of New York Mellon Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Credit Suisse Group AG reiterated a “hold” rating on shares of Bank Of New York Mellon Corp. in a research note on Tuesday, June 28th. Finally, Barclays PLC reiterated a “buy” rating on shares of Bank Of New York Mellon Corp. in a research note on Saturday, July 9th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Bank Of New York Mellon Corp. currently has a consensus rating of “Buy” and a consensus target price of $45.05.

Shares of Bank Of New York Mellon Corp. (NYSE:BK) opened at 39.09 on Wednesday. Bank Of New York Mellon Corp. has a 52-week low of $32.20 and a 52-week high of $44.73. The company’s 50 day moving average is $40.53 and its 200 day moving average is $39.80. The firm has a market cap of $41.74 billion, a price-to-earnings ratio of 14.02 and a beta of 1.37.

Several institutional investors have recently modified their holdings of the company. Natixis bought a new position in shares of Bank Of New York Mellon Corp. during the first quarter worth approximately $35,850,000. Kingstown Capital Management L.P. raised its position in shares of Bank Of New York Mellon Corp. by 42.3% in the first quarter. Kingstown Capital Management L.P. now owns 1,850,000 shares of the company’s stock worth $68,136,000 after buying an additional 550,000 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Bank Of New York Mellon Corp. by 12.2% in the second quarter. Brown Advisory Inc. now owns 315,860 shares of the company’s stock worth $12,271,000 after buying an additional 34,307 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Bank Of New York Mellon Corp. during the first quarter worth approximately $43,333,000. Finally, British Airways Pensions Investment Management Ltd raised its position in shares of Bank Of New York Mellon Corp. by 18.8% in the second quarter. British Airways Pensions Investment Management Ltd now owns 944,460 shares of the company’s stock worth $36,838,000 after buying an additional 149,590 shares during the last quarter. 81.93% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Trian Fund Management, L.P. bought 152,000 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were acquired at an average price of $38.87 per share, with a total value of $5,908,240.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.

About Bank Of New York Mellon Corp.

The Bank of New York Mellon Corporation (BNY Mellon) 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

5 Day Chart for NYSE:BK

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