Bank of New York Mellon Corp (NYSE:BK) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC boosted its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 47.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,353 shares of the bank’s stock after acquiring an additional 1,730 shares during the quarter. Parallel Advisors LLC’s holdings in Bank of New York Mellon were worth $242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trustcore Financial Services LLC lifted its holdings in shares of Bank of New York Mellon by 204.6% in the 2nd quarter. Trustcore Financial Services LLC now owns 658 shares of the bank’s stock valued at $29,000 after buying an additional 442 shares during the period. Atwater Malick LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at about $31,000. Mirova acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $41,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $43,000. Finally, Baystate Wealth Management LLC lifted its holdings in shares of Bank of New York Mellon by 386.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 1,006 shares of the bank’s stock valued at $45,000 after buying an additional 799 shares during the period. 82.34% of the stock is owned by institutional investors.

In related news, EVP Mitchell E. Harris sold 50,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $44.60, for a total value of $2,230,000.00. Following the completion of the transaction, the executive vice president now owns 142,266 shares in the company, valued at approximately $6,345,063.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.71% of the stock is owned by insiders.

Shares of Bank of New York Mellon stock traded down $0.20 on Friday, hitting $49.20. The company’s stock had a trading volume of 3,381,908 shares, compared to its average volume of 5,128,121. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 0.70. Bank of New York Mellon Corp has a 1 year low of $40.52 and a 1 year high of $54.27. The firm has a fifty day moving average price of $45.56 and a 200-day moving average price of $45.13. The company has a market capitalization of $46.35 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.50 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Bank of New York Mellon had a return on equity of 10.57% and a net margin of 19.31%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the business earned $1.06 EPS. Bank of New York Mellon’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, analysts forecast that Bank of New York Mellon Corp will post 3.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid a $0.31 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.24 annualized dividend and a dividend yield of 2.52%. Bank of New York Mellon’s dividend payout ratio is presently 29.45%.

Several brokerages have recently issued reports on BK. JPMorgan Chase & Co. decreased their price objective on Bank of New York Mellon from $47.00 to $45.00 and set an “underweight” rating for the company in a report on Thursday, October 10th. ValuEngine cut Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Deutsche Bank decreased their price objective on Bank of New York Mellon from $47.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Morgan Stanley decreased their price objective on Bank of New York Mellon from $42.00 to $40.00 and set an “underweight” rating for the company in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods raised Bank of New York Mellon from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $46.00 to $47.00 in a report on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Bank of New York Mellon presently has a consensus rating of “Hold” and a consensus price target of $47.90.

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.

See Also: Leveraged Buyout (LBO)

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

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

Receive News & Ratings for Bank of New York Mellon 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 and related companies with MarketBeat.com's FREE daily email newsletter.