Deroy & Devereaux Private Investment Counsel Inc. Decreases Stake in Bank of New York Mellon Corp (BK)

Deroy & Devereaux Private Investment Counsel Inc. cut its stake in shares of Bank of New York Mellon Corp (NYSE:BK) by 97.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,465 shares of the bank’s stock after selling 311,473 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Bank of New York Mellon were worth $432,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in BK. Townsend & Associates Inc increased its holdings in shares of Bank of New York Mellon by 7.3% in the 2nd quarter. Townsend & Associates Inc now owns 13,452 shares of the bank’s stock valued at $725,000 after acquiring an additional 916 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in Bank of New York Mellon by 0.8% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 114,420 shares of the bank’s stock worth $6,171,000 after buying an additional 954 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Bank of New York Mellon by 6.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 14,762 shares of the bank’s stock worth $796,000 after buying an additional 959 shares during the last quarter. Country Club Trust Company n.a. grew its stake in Bank of New York Mellon by 1.0% during the 2nd quarter. Country Club Trust Company n.a. now owns 100,827 shares of the bank’s stock worth $5,437,000 after buying an additional 982 shares during the last quarter. Finally, James Investment Research Inc. grew its stake in Bank of New York Mellon by 2.9% during the 2nd quarter. James Investment Research Inc. now owns 35,270 shares of the bank’s stock worth $1,902,000 after buying an additional 990 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

BK has been the subject of several recent analyst reports. Wolfe Research initiated coverage on Bank of New York Mellon in a research note on Tuesday, September 25th. They issued an “underperform” rating for the company. Citigroup decreased their price target on Bank of New York Mellon from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, October 19th. Zacks Investment Research raised Bank of New York Mellon from a “sell” rating to a “hold” rating and set a $57.00 price target for the company in a research note on Monday, September 17th. Deutsche Bank increased their price target on Bank of New York Mellon from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Finally, Keefe, Bruyette & Woods cut Bank of New York Mellon from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $55.00 to $49.00 in a research note on Friday, October 19th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $58.38.



Shares of Bank of New York Mellon stock opened at $46.92 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $45.47 billion, a PE ratio of 13.03, a PEG ratio of 1.42 and a beta of 1.05. Bank of New York Mellon Corp has a fifty-two week low of $45.16 and a fifty-two week high of $58.99.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, October 18th. The bank reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. Bank of New York Mellon had a return on equity of 11.48% and a net margin of 24.92%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Bank of New York Mellon Corp will post 4.17 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Tuesday, October 30th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, October 29th. Bank of New York Mellon’s dividend payout ratio is 31.11%.

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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