4,027 Shares in Bank of New York Mellon Corp (BK) Purchased by Cpwm LLC

Cpwm LLC bought a new stake in Bank of New York Mellon Corp (NYSE:BK) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 4,027 shares of the bank’s stock, valued at approximately $203,000.

A number of other institutional investors also recently modified their holdings of BK. Lavaca Capital LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $27,000. C J Advisory Inc purchased a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $28,000. Berman Capital Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $33,000. Sontag Advisory LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $33,000. Finally, Valley National Advisers Inc. increased its stake in shares of Bank of New York Mellon by 76.5% during the 4th quarter. Valley National Advisers Inc. now owns 713 shares of the bank’s stock worth $34,000 after purchasing an additional 309 shares in the last quarter. 87.88% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on BK. Royal Bank of Canada dropped their price objective on shares of Bank of New York Mellon to $52.00 and set a “positive” rating for the company in a research note on Thursday, April 18th. ValuEngine raised shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Zacks Investment Research raised shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Deutsche Bank raised their price objective on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Buckingham Research dropped their price objective on shares of Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.75.



In related news, Director Trian Fund Management, L.P. sold 621,807 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $50.11, for a total transaction of $31,158,748.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles W. Scharf sold 4,674 shares of Bank of New York Mellon stock in a transaction on Friday, February 15th. The shares were sold at an average price of $52.99, for a total transaction of $247,675.26. Following the completion of the transaction, the chief executive officer now owns 304,118 shares in the company, valued at approximately $16,115,212.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 853,244 shares of company stock worth $43,210,239. 1.71% of the stock is owned by company insiders.

Shares of NYSE BK opened at $47.01 on Wednesday. Bank of New York Mellon Corp has a 1 year low of $43.67 and a 1 year high of $58.22. The company has a market cap of $45.15 billion, a P/E ratio of 11.17, a PEG ratio of 1.41 and a beta of 1.01. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.02). Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business posted $1.10 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. Sell-side analysts anticipate that Bank of New York Mellon Corp will post 4.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Monday, April 29th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $1.12 dividend on an annualized basis and a yield of 2.38%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.60%.

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About Bank of New York Mellon

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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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)

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