PFG Advisors Purchases 300 Shares of Bank of New York Mellon Corp (NYSE:BK)

PFG Advisors grew its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,065 shares of the bank’s stock after buying an additional 300 shares during the quarter. PFG Advisors’ holdings in Bank of New York Mellon were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Traverso Chambers Private Wealth Management LLC increased its stake in Bank of New York Mellon by 3.3% in the 4th quarter. Traverso Chambers Private Wealth Management LLC now owns 6,625 shares of the bank’s stock worth $333,000 after buying an additional 212 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Bank of New York Mellon by 0.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 54,282 shares of the bank’s stock worth $2,397,000 after buying an additional 218 shares in the last quarter. Endurance Wealth Management Inc. increased its stake in Bank of New York Mellon by 23.0% in the 3rd quarter. Endurance Wealth Management Inc. now owns 1,335 shares of the bank’s stock worth $60,000 after buying an additional 250 shares in the last quarter. Schulhoff & Co. Inc. increased its stake in Bank of New York Mellon by 1.1% in the 3rd quarter. Schulhoff & Co. Inc. now owns 24,213 shares of the bank’s stock worth $1,094,000 after buying an additional 253 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its stake in Bank of New York Mellon by 4.9% in the 3rd quarter. Archford Capital Strategies LLC now owns 6,164 shares of the bank’s stock worth $279,000 after buying an additional 287 shares in the last quarter. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on BK shares. Credit Suisse Group increased their price target on Bank of New York Mellon from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. cut their price target on Bank of New York Mellon from $47.00 to $45.00 and set an “underweight” rating for the company in a research note on Thursday, October 10th. Wolfe Research upgraded Bank of New York Mellon from a “peer perform” rating to an “outperform” rating in a research note on Monday, January 6th. Citigroup increased their price target on Bank of New York Mellon from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, ValuEngine upgraded Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.60.

Shares of Bank of New York Mellon stock opened at $51.01 on Wednesday. The firm has a market cap of $46.61 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.43 and a beta of 1.14. The business has a 50-day moving average price of $50.15 and a 200-day moving average price of $46.44. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corp has a twelve month low of $40.52 and a twelve month high of $54.27.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. Bank of New York Mellon had a return on equity of 10.57% and a net margin of 19.31%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. On average, equities analysts expect that Bank of New York Mellon Corp will post 3.98 EPS for the current fiscal year.

In other news, EVP Mitchell E. Harris sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $44.60, for a total transaction 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 $6,345,063.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.71% of the company’s stock.

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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