First Allied Advisory Services Inc. Reduces Holdings in Bank Of New York Mellon Corporation (The) (NYSE:BK)

First Allied Advisory Services Inc. cut its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 13.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,754 shares of the bank’s stock after selling 3,410 shares during the period. First Allied Advisory Services Inc.’s holdings in Bank Of New York Mellon were worth $1,202,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. CLS Investments LLC boosted its holdings in Bank Of New York Mellon by 4.2% in the 3rd quarter. CLS Investments LLC now owns 31,449 shares of the bank’s stock worth $1,667,000 after buying an additional 1,254 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Bank Of New York Mellon by 32.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,026 shares of the bank’s stock worth $1,328,000 after buying an additional 6,091 shares during the last quarter. Maltese Capital Management LLC acquired a new stake in Bank Of New York Mellon in the 3rd quarter worth about $5,037,000. Segall Bryant & Hamill LLC boosted its holdings in Bank Of New York Mellon by 2.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 125,950 shares of the bank’s stock worth $6,678,000 after buying an additional 2,721 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Bank Of New York Mellon in the 3rd quarter worth about $1,313,000. Hedge funds and other institutional investors own 82.92% of the company’s stock.

BK has been the topic of a number of research reports. Barclays raised their target price on shares of Bank Of New York Mellon from $55.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Bank Of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Jefferies Group reissued a “hold” rating on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Credit Suisse Group reissued a “hold” rating and issued a $55.00 target price on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Finally, Citigroup reissued a “neutral” rating and issued a $56.00 target price (up from $53.00) on shares of Bank Of New York Mellon in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $55.82.

Bank Of New York Mellon Corporation (NYSE BK) traded down $0.04 during mid-day trading on Tuesday, hitting $53.82. 3,633,056 shares of the stock traded hands, compared to its average volume of 2,999,700. The stock has a market cap of $55,600.00, a price-to-earnings ratio of 15.83, a PEG ratio of 1.96 and a beta of 1.22. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. Bank Of New York Mellon Corporation has a 1 year low of $43.85 and a 1 year high of $55.40.

Bank Of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. sell-side analysts forecast that Bank Of New York Mellon Corporation will post 3.55 EPS for the current fiscal year.

In other Bank Of New York Mellon news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total value of $303,969,164.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward P. Garden sold 1,031,157 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $53.13, for a total value of $54,785,371.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,708,334 shares of company stock worth $404,956,863. Corporate insiders own 3.60% of the company’s stock.

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Bank Of New York Mellon 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 (NYSE:BK)

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