Baker Avenue Asset Management LP Has $1.63 Million Holdings in Bank of New York Mellon Corp (BK)
Baker Avenue Asset Management LP grew its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 6.6% during the fourth quarter, Holdings Channel reports. The fund owned 30,258 shares of the bank’s stock after purchasing an additional 1,874 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Bank of New York Mellon were worth $1,630,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in Bank of New York Mellon by 7.4% during the 3rd quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock worth $54,102,000 after acquiring an additional 70,619 shares during the last quarter. Wealthfront Inc. raised its stake in shares of Bank of New York Mellon by 6.6% during the 4th quarter. Wealthfront Inc. now owns 47,762 shares of the bank’s stock worth $2,572,000 after purchasing an additional 2,974 shares during the period. Rothschild Asset Management Inc. bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $612,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $748,000. Finally, Rhumbline Advisers raised its stake in shares of Bank of New York Mellon by 1.0% during the 3rd quarter. Rhumbline Advisers now owns 1,746,821 shares of the bank’s stock worth $92,616,000 after purchasing an additional 16,839 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Bridget E. Engle sold 38,928 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $56.62, for a total transaction of $2,204,103.36. Following the sale, the insider now directly owns 68,046 shares in the company, valued at $3,852,764.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.60% of the company’s stock.
Shares of Bank of New York Mellon Corp (BK) opened at $57.23 on Friday. Bank of New York Mellon Corp has a 52 week low of $45.12 and a 52 week high of $58.99. The stock has a market capitalization of $60,230.00, a PE ratio of 18.83, a P/E/G ratio of 1.78 and a beta of 1.16. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.82.
Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business posted $0.77 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. equities analysts anticipate that Bank of New York Mellon Corp will post 4.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is currently 31.58%.
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.
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