Wesbanco Bank Inc. increased its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,765 shares of the bank’s stock after purchasing an additional 584 shares during the period. Wesbanco Bank Inc.’s holdings in Bank of New York Mellon were worth $1,024,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Private Capital Group LLC increased its position in shares of Bank of New York Mellon by 3.6% during the 4th quarter. Private Capital Group LLC now owns 5,628 shares of the bank’s stock worth $265,000 after purchasing an additional 197 shares during the last quarter. CWM LLC increased its position in shares of Bank of New York Mellon by 13.3% during the 4th quarter. CWM LLC now owns 1,728 shares of the bank’s stock worth $81,000 after purchasing an additional 203 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Bank of New York Mellon by 6.2% during the 4th quarter. Quadrant Capital Group LLC now owns 3,792 shares of the bank’s stock worth $168,000 after purchasing an additional 223 shares during the last quarter. Reilly Financial Advisors LLC increased its position in shares of Bank of New York Mellon by 13.6% during the 4th quarter. Reilly Financial Advisors LLC now owns 1,893 shares of the bank’s stock worth $89,000 after purchasing an additional 226 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Bank of New York Mellon by 3.3% during the 4th quarter. Manchester Capital Management LLC now owns 8,950 shares of the bank’s stock worth $483,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 84.45% of the company’s stock.

Shares of BK stock traded up $0.04 during trading on Monday, reaching $51.87. 62,710 shares of the company’s stock were exchanged, compared to its average volume of 5,216,346. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $51.25 billion, a PE ratio of 12.31, a PEG ratio of 1.47 and a beta of 1.03. Bank of New York Mellon Corp has a twelve month low of $43.67 and a twelve month high of $58.67.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 16th. The bank reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.02 billion. Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. As a group, sell-side analysts predict that Bank of New York Mellon Corp will post 4.27 EPS for the current fiscal year.

Bank of New York Mellon declared that its Board of Directors has approved a share repurchase plan on Monday, December 10th that permits the company to repurchase $830.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Monday, January 28th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, January 25th. Bank of New York Mellon’s payout ratio is presently 26.60%.

In other Bank of New York Mellon news, Director Trian Fund Management, L.P. sold 2,107,000 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $53.48, for a total value of $112,682,360.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Edward P. Garden sold 1,400,000 shares of the company’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $53.64, for a total value of $75,096,000.00. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.

Several research analysts have weighed in on the company. Credit Suisse Group lowered their price target on Bank of New York Mellon from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, December 7th. Vining Sparks reaffirmed a “buy” rating and set a $55.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $55.00 to $52.00 in a research report on Wednesday, January 9th. Zacks Investment Research raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Monday, January 21st. Finally, Keefe, Bruyette & Woods lowered Bank of New York Mellon from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $55.00 to $49.00 in a research report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.00.

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Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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

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