Yousif Capital Management LLC Sells 11,279 Shares of The Bank of New York Mellon Corporation $BK

Yousif Capital Management LLC reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 10.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 97,066 shares of the bank’s stock after selling 11,279 shares during the period. Yousif Capital Management LLC’s holdings in Bank of New York Mellon were worth $8,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen LLC bought a new position in Bank of New York Mellon in the first quarter worth about $773,627,000. AustralianSuper Pty Ltd bought a new position in Bank of New York Mellon in the first quarter worth about $92,502,000. Goldman Sachs Group Inc. raised its holdings in Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after purchasing an additional 1,052,145 shares in the last quarter. Wellington Management Group LLP raised its holdings in Bank of New York Mellon by 257.6% in the first quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after purchasing an additional 890,593 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Bank of New York Mellon by 37.7% in the first quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock worth $266,349,000 after purchasing an additional 887,361 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $106.26 on Tuesday. The business’s 50 day moving average price is $105.19 and its 200 day moving average price is $93.97. The firm has a market cap of $74.94 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. On average, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the sale, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BK shares. TD Cowen started coverage on shares of Bank of New York Mellon in a report on Thursday, September 25th. They issued a “buy” rating for the company. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $106.77.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.