Traders Sell Bank Of New York Mellon Corp. (BK) on Strength (BK)
Investors sold shares of Bank Of New York Mellon Corp. (NYSE:BK) on strength during trading on Wednesday. $12.62 million flowed into the stock on the tick-up and $36.39 million flowed out of the stock on the tick-down, for a money net flow of $23.77 million out of the stock. Of all equities tracked, Bank Of New York Mellon Corp. had the 0th highest net out-flow for the day. Bank Of New York Mellon Corp. traded up $0.45 for the day and closed at $41.71
BK has been the subject of several analyst reports. Credit Suisse Group AG reiterated a “hold” rating and issued a $42.00 price objective on shares of Bank Of New York Mellon Corp. in a research note on Tuesday. Zacks Investment Research raised shares of Bank Of New York Mellon Corp. from a “sell” rating to a “hold” rating in a research report on Monday. Jefferies Group reissued a “hold” rating and set a $38.00 target price on shares of Bank Of New York Mellon Corp. in a research report on Thursday, August 25th. Deutsche Bank AG increased their target price on shares of Bank Of New York Mellon Corp. from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Argus reissued a “hold” rating on shares of Bank Of New York Mellon Corp. in a research report on Friday, July 22nd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Bank Of New York Mellon Corp. currently has an average rating of “Buy” and a consensus price target of $44.80.
The stock has a 50 day moving average of $39.97 and a 200-day moving average of $39.04. The stock has a market cap of $44.49 billion and a price-to-earnings ratio of 14.95.
Bank Of New York Mellon Corp. (NYSE:BK) last issued its earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. The firm earned $3.78 billion during the quarter, compared to analysts’ expectations of $3.79 billion. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. On average, equities analysts anticipate that Bank Of New York Mellon Corp. will post $3.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Tuesday, August 2nd were issued a $0.19 dividend. The ex-dividend date was Friday, July 29th. This represents a $0.76 annualized dividend and a yield of 1.82%.
In related news, Director Trian Fund Management, L.P. acquired 152,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was purchased at an average cost of $38.87 per share, with a total value of $5,908,240.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Bank Of New York Mellon Corp. stock. Dimensional Fund Advisors LP increased its stake in shares of Bank Of New York Mellon Corp. (NYSE:BK) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,603,716 shares of the company’s stock after buying an additional 174,940 shares during the period. Dimensional Fund Advisors LP owned about 0.61% of Bank Of New York Mellon Corp. worth $272,206,000 as of its most recent SEC filing.
The Bank of New York Mellon Corporation (BNY Mellon) is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.
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