Commerzbank Aktiengesellschaft FI lifted its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,893 shares of the bank’s stock after acquiring an additional 9,953 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bank of New York Mellon were worth $2,617,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Stewart & Patten Co. LLC grew its position in Bank of New York Mellon by 4.4% during the third quarter. Stewart & Patten Co. LLC now owns 288,001 shares of the bank’s stock worth $13,021,000 after buying an additional 12,164 shares during the period. Mainstay Capital Management LLC ADV grew its position in Bank of New York Mellon by 9.4% during the third quarter. Mainstay Capital Management LLC ADV now owns 25,661 shares of the bank’s stock worth $1,161,000 after buying an additional 2,200 shares during the period. Vista Private Wealth Partners. LLC acquired a new position in Bank of New York Mellon during the third quarter worth about $52,000. Advisor Partners LLC grew its position in Bank of New York Mellon by 3.3% during the third quarter. Advisor Partners LLC now owns 26,031 shares of the bank’s stock worth $1,177,000 after buying an additional 842 shares during the period. Finally, Signaturefd LLC grew its position in Bank of New York Mellon by 8.1% during the third quarter. Signaturefd LLC now owns 4,553 shares of the bank’s stock worth $206,000 after buying an additional 341 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

BK stock opened at $45.34 on Monday. The company’s 50 day simple moving average is $44.35 and its 200-day simple moving average is $45.54. The firm has a market capitalization of $41.84 billion, a PE ratio of 10.77, a P/E/G ratio of 1.36 and a beta of 1.12. Bank of New York Mellon Corp has a 12 month low of $40.52 and a 12 month high of $54.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.70 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Bank of New York Mellon had a net margin of 19.31% and a return on equity of 10.57%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. As a group, sell-side analysts anticipate that Bank of New York Mellon Corp will post 3.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be given a $0.31 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.24 annualized dividend and a dividend yield of 2.73%. Bank of New York Mellon’s dividend payout ratio is presently 29.45%.

Bank of New York Mellon declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 27th that permits the company to buyback $3.94 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 9.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wolfe Research upgraded shares of Bank of New York Mellon from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 2nd. UBS Group lowered their target price on shares of Bank of New York Mellon from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Buckingham Research lowered their target price on shares of Bank of New York Mellon from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bank of New York Mellon from $47.00 to $45.00 and set an “underweight” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $47.90.

In related news, Vice Chairman Thomas P. Gibbons sold 318,556 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.72, for a total transaction of $14,882,936.32. Following the transaction, the insider now owns 539,052 shares of the company’s stock, valued at $25,184,509.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mitchell E. Harris sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $44.60, for a total transaction of $2,230,000.00. Following the transaction, the executive vice president now directly owns 142,266 shares in the company, valued at approximately $6,345,063.60. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.

Bank of New York Mellon Company 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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