Atlantic Union Bankshares Corp Reduces Stake in Bank of New York Mellon Corp (NYSE:BK)

Atlantic Union Bankshares Corp reduced its position in Bank of New York Mellon Corp (NYSE:BK) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,480 shares of the bank’s stock after selling 200 shares during the period. Atlantic Union Bankshares Corp’s holdings in Bank of New York Mellon were worth $678,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arjuna Capital increased its position in Bank of New York Mellon by 1.4% during the second quarter. Arjuna Capital now owns 29,212 shares of the bank’s stock worth $1,290,000 after buying an additional 413 shares in the last quarter. APG Asset Management N.V. purchased a new position in Bank of New York Mellon during the second quarter worth $4,850,000. Rampart Investment Management Company LLC increased its position in Bank of New York Mellon by 36.6% during the second quarter. Rampart Investment Management Company LLC now owns 11,280 shares of the bank’s stock worth $498,000 after buying an additional 3,021 shares in the last quarter. National Pension Service increased its position in Bank of New York Mellon by 5.3% during the second quarter. National Pension Service now owns 1,115,256 shares of the bank’s stock worth $49,239,000 after buying an additional 56,043 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Bank of New York Mellon during the second quarter worth $918,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

BK has been the subject of several recent research reports. ValuEngine raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lowered their price objective on Bank of New York Mellon from $47.00 to $45.00 and set an “underweight” rating for the company in a research report on Thursday, October 10th. Wolfe Research raised Bank of New York Mellon from a “peer perform” rating to an “outperform” rating in a research report on Monday, January 6th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $51.00 to $53.00 and gave the company an “underweight” rating in a research report on Monday, December 23rd. Finally, Citigroup lifted their price objective on Bank of New York Mellon from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $51.60.

In related news, EVP Mitchell E. Harris sold 50,000 shares of Bank of New York Mellon stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $44.60, for a total value of $2,230,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.71% of the stock is currently owned by company insiders.

Shares of NYSE:BK opened at $51.01 on Wednesday. The company has a market cap of $46.61 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.43 and a beta of 1.14. 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 52 week low of $40.52 and a 52 week high of $54.27. The business has a fifty day simple moving average of $50.15 and a 200-day simple moving average of $46.44.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 earnings per share. Sell-side analysts expect that Bank of New York Mellon Corp will post 3.98 earnings per share for the current fiscal year.

Bank of New York Mellon Company 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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