Commerzbank Aktiengesellschaft FI raised its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 90.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,839 shares of the bank’s stock after purchasing an additional 9,906 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bank Of New York Mellon were worth $1,105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Bank Of New York Mellon in the 2nd quarter worth approximately $1,139,000. First Interstate Bank grew its position in shares of Bank Of New York Mellon by 56.2% in the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after acquiring an additional 842 shares in the last quarter. Hudock Capital Group LLC grew its position 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 worth $130,000 after acquiring an additional 7 shares in the last quarter. Horan Capital Advisors LLC. acquired a new position in shares of Bank Of New York Mellon in the 3rd quarter worth approximately $139,000. Finally, Advisory Services Network LLC grew its position in shares of Bank Of New York Mellon by 15.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after acquiring an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Several analysts recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon in a report on Thursday, August 31st. UBS downgraded Bank Of New York Mellon 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. Jefferies Group reissued a “hold” rating and issued a $56.00 price target on shares of Bank Of New York Mellon in a report on Friday, September 15th. Zacks Investment Research downgraded Bank Of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Finally, Citigroup reaffirmed a “neutral” rating and set a $56.00 target price (up previously from $53.00) on shares of Bank Of New York Mellon in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $55.28.

In related news, Director Trian Fund Management, L.P. sold 5,798,725 shares of Bank Of New York Mellon stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total transaction of $303,969,164.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Brian T. Shea sold 22,228 shares of Bank Of New York Mellon stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $51.26, for a total value of $1,139,407.28. Following the sale, the insider now directly owns 181,815 shares of the company’s stock, valued at approximately $9,319,836.90. The disclosure for this sale can be found here. Insiders sold a total of 7,708,334 shares of company stock worth $404,956,863 over the last 90 days. Insiders own 3.60% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at $54.22 on Friday. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $55.40. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $55,317.67, a price-to-earnings ratio of 15.57, a PEG ratio of 1.97 and a beta of 1.22.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon’s payout ratio is 28.07%.

ILLEGAL ACTIVITY NOTICE: “Commerzbank Aktiengesellschaft FI Buys 9,906 Shares of Bank Of New York Mellon Corporation (The) (BK)” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/12/08/commerzbank-aktiengesellschaft-fi-buys-9906-shares-of-bank-of-new-york-mellon-corporation-the-bk.html.

About Bank Of New York Mellon

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)

Receive News & Stock 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 stocks with our FREE daily email newsletter.