Brandes Investment Partners LP Has $47.99 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)


Brandes Investment Partners LP cut its stake in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 4.5% during the third quarter, according to its latest filing with the Securities and Exchange Commission . The fund owned 1,245,859 shares of the bank’s stock after selling 58,965 shares during the quarter. Bank of New York Mellon represents approximately 1.3% of Brandes Investment Partners LP’s investment portfolio, making it its 26th largest position. Brandes Investment Partners LP owned approximately 0.15% of Bank of New York Mellons worth $47,991,000 at the end of the most recent quarter.

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Several other institutional investors have also increased or decreased their stakes in BK recently. Hazlett Burt & Watson Inc. increased his position in Bank of New York Mellon by 132.2% during the third quarter. Hazlett Burt & Watson Inc. now owns 692 shares of bank stock worth $26,000 after buying an additional 394 shares of him last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Bank of New York Mellon in the third quarter for a value of approximately $26,000. Rock Creek Group LP increased its stake in Bank of New York Mellon by 273.8% in the second quarter. Rock Creek Group LP now owns 729 bank shares worth $30,000 after purchasing an additional 534 shares during this period. Brown Brothers Harriman & Co. increased its stake in Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 bank shares worth $30,000 after acquiring another 300 shares last quarter. Finally, Gradient Investments LLC increased its stake in Bank of New York Mellon stock by 74.0% in the third quarter. Gradient Investments LLC now owns 802 shares of bank stock worth $31,000 after purchasing an additional 341 shares last quarter. 82.29% of the shares are owned by institutional investors.

Analyst Rating Change

Several equity analysts have recently published reports on BK stock. StockNews.com began coverage of Bank of New York Mellon shares in a research report on Wednesday, October 12th. They issued a “Hold” rating on the stock. Goldman Sachs Group Inc. upgraded its rating on Bank of New York Mellon to “buy” from “neutral” and set a price target of $59.00 in its report on Wednesday, January 4. Deutsche Bank Aktiengesellschaft raised its price target on Bank of New York Mellon shares to $44.00 from $43.00 in a research report on Tuesday, November 15, giving the stock a ‘hold’ rating. Barclays raised its price target on Bank of New York Mellon shares to $64.00 from $57.00 and gave the company an ‘Overweight’ rating in its research notes on Tuesday, January 3. Finally, Bank of America began covering shares of Bank of New York Mellon in a research report on Thursday. They issued a ‘buy’ rating and a price target of $56.00. One equity research analyst gave this stock a sell rating, 6 gave a hold rating, and 6 issued a buy rating. Based on MarketBeat.com data, the stock has an average rating of Hold and an average target price of $51.65.

Bank of New York Mellon stock gains 1.8%

BK shares rose $0.87 to $49.03 in intraday trading on Monday. His average turnover was 6,533,733 shares, while his 515,070 shares of the company’s stock were exchanged. The company has a 50-day simple moving average of $45.13 and a 200-day simple moving average of $43.11. The company has a debt to equity ratio of 0.86, a current ratio of 0.66 and a quick ratio of 0.66. The Bank of New York Mellon Co. has a 52-week low of $36.22 and a 52-week high of $64.63. The company has a market capitalization of $39.63 billion, a PE ratio of 16.91, a P/E/G ratio of 1.32, and a beta of 1.08.

Bank of New York Mellon (NYSE:BK – Get Rating) last reported quarterly results on Friday, January 13. The bank reported earnings of $1.30 per share for the quarter, beating consensus expectations of $1.12 by $0.18. Bank of New York Mellon had a return on equity of 10.78% and a net profit margin of 12.87%. The company’s revenue for the quarter was $3.92 billion, compared with analyst estimates of $4.12 billion. In the same quarter last year, the company earned his EPS of $1.04. Business quarterly revenue declined 2.4% year-over-year. On average, research analysts expect Bank of New York Mellon to post his earnings per share of 4.63 this fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend payable on Friday, February 3rd. Investors of record on Monday, January 23rd will be paid a dividend of $0.37. The ex-dividend date is Friday, January 20. This represents his $1.48 dividend and his 3.02% yield on an annualized basis. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 51.03%.

Insider trading at Bank of New York Mellon

In separate Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a trade on Wednesday, October 19th. The shares sold for an average of $39.37, giving him a total of $787,400.00. Following the closing of the sale, the Executive Vice President now owns 108,686 shares of the Company’s stock valued at approximately $4,278,967.82. The deal is disclosed in legal filings with the Securities and Exchange Commission, which can be accessed on his website at the SEC. The insider owns his 0.08% of the company’s shares.

Bank of New York Mellon Company Profile

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Bank of New York Mellon Corporation offers a variety of financial products and services in the United States and internationally. The Company operates through Securities Services, Markets and Wealth Services, Investments and Wealth Management, and Other segments. The Securities Services segment includes Custody, Trust & Depository, Accounting, Exchange Traded Trusts, Middle Office Solutions, Transfer Agency, Services for Private Equity and Real Estate Funds, Foreign Exchange, Securities Lending, Liquidity/Lending Services, Prime Brokerage, and Data. analysis.

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Want to know other hedge funds holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trading from The Bank of New York Mellon Co. (NYSE:BK – Get Rating).

Bank of New York Mellon (NYSE:BK) Quarterly Institutional Ownership

This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to contact@marketbeat.com.

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