Cannell Peter B & Co. Inc. Has $24.13 Million Stake in Bank Of New York Mellon Corporation (The) (BK)

Cannell Peter B & Co. Inc. cut its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 455,090 shares of the bank’s stock after selling 3,199 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $24,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of BK. First Interstate Bank grew its stake in Bank Of New York Mellon Corporation (The) by 56.2% during the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after acquiring an additional 842 shares in the last quarter. Hudock Capital Group LLC grew its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after acquiring an additional 7 shares in the last quarter. Advisory Services Network LLC grew its stake in Bank Of New York Mellon Corporation (The) by 15.5% during the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after acquiring an additional 363 shares in the last quarter. Burt Wealth Advisors grew its stake in Bank Of New York Mellon Corporation (The) by 2,186.7% during the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock valued at $139,000 after acquiring an additional 2,624 shares in the last quarter. Finally, Fiduciary Trust Co. purchased a new position in Bank Of New York Mellon Corporation (The) during the second quarter valued at $168,000. 82.44% of the stock is owned by institutional investors.

In related news, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $51.26, for a total value of $1,139,407.28. Following the completion of the transaction, the insider now directly owns 181,815 shares in the company, valued at approximately $9,319,836.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Gerald L. Hassell sold 24,280 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $51.69, for a total transaction of $1,255,033.20. Following the completion of the transaction, the chairman now owns 857,899 shares of the company’s stock, valued at $44,344,799.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,876,390 shares of company stock valued at $361,148,976. Company insiders own 3.60% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE:BK) traded up $0.05 during trading hours on Tuesday, reaching $52.52. 4,558,100 shares of the company’s stock traded hands, compared to its average volume of 4,574,481. The stock has a market cap of $54,260.00, a P/E ratio of 15.12, a PEG ratio of 1.98 and a beta of 1.21. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $55.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. Bank Of New York Mellon Corporation (The) had a net margin of 23.14% and a return on equity of 10.51%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the business posted $0.90 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon Corporation (The)’s payout ratio is 28.24%.

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BK has been the subject of several research analyst reports. UBS AG cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Friday, September 8th. Zacks Investment Research raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, July 24th. Morgan Stanley lifted their price objective on shares of Bank Of New York Mellon Corporation (The) from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $58.00 price objective (up from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, October 20th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $55.28.

Bank Of New York Mellon Corporation (The) Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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