The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY raised its position in The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 114.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 565,496 shares of the bank’s stock after acquiring an additional 302,139 shares during the quarter. Bank of New York Mellon accounts for about 3.6% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 7th largest holding. Matrix Asset Advisors Inc. NY owned approximately 0.07% of Bank of New York Mellon worth $23,587,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BK. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Bank of New York Mellon by 3.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 98,989 shares of the bank’s stock worth $4,913,000 after acquiring an additional 3,626 shares during the period. Assenagon Asset Management S.A. boosted its position in Bank of New York Mellon by 5.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 48,448 shares of the bank’s stock worth $2,404,000 after acquiring an additional 2,502 shares during the period. Norinchukin Bank The lifted its holdings in shares of Bank of New York Mellon by 21.7% during the 1st quarter. Norinchukin Bank The now owns 30,600 shares of the bank’s stock valued at $1,519,000 after buying an additional 5,451 shares during the last quarter. Norges Bank acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $555,083,000. Finally, Denali Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 800.0% during the 1st quarter. Denali Advisors LLC now owns 6,300 shares of the bank’s stock valued at $313,000 after buying an additional 5,600 shares during the last quarter. Institutional investors and hedge funds own 83.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BK. UBS Group lowered their price objective on Bank of New York Mellon from $56.00 to $52.00 in a research report on Monday, July 11th. Credit Suisse Group dropped their price objective on Bank of New York Mellon from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, July 19th. Citigroup lowered their price target on Bank of New York Mellon from $50.00 to $46.00 in a report on Tuesday, July 12th. Royal Bank of Canada reduced their price objective on Bank of New York Mellon from $56.00 to $49.00 and set a “sector perform” rating for the company in a research report on Friday, July 1st. Finally, JPMorgan Chase & Co. reduced their price target on Bank of New York Mellon from $51.50 to $46.50 in a research report on Monday, July 11th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.73.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded down $1.15 during trading hours on Friday, reaching $39.78. The company’s stock had a trading volume of 73,092 shares, compared to its average volume of 3,591,573. The firm has a 50 day moving average price of $43.17 and a 200-day moving average price of $44.82. The Bank of New York Mellon Co. has a one year low of $39.78 and a one year high of $64.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $32.15 billion, a P/E ratio of 10.39, a P/E/G ratio of 1.67 and a beta of 1.11.

Bank of New York Mellon (NYSE:BKGet Rating) last posted its earnings results on Friday, July 15th. The bank reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.09). The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Bank of New York Mellon had a net margin of 20.61% and a return on equity of 9.49%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. On average, analysts predict that The Bank of New York Mellon Co. will post 4.22 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 25th were given a dividend of $0.37 per share. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 37.56%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, CEO Thomas P. Gibbons sold 105,062 shares of Bank of New York Mellon stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $43.24, for a total transaction of $4,542,880.88. Following the completion of the sale, the chief executive officer now directly owns 221,018 shares in the company, valued at $9,556,818.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

Bank of New York Mellon Company Profile

(Get Rating)

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, prime brokerage, and data analytics.

Featured Articles

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BKGet Rating).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.