Rowland & Co. Investment Counsel ADV purchased a new position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,293 shares of the bank’s stock, valued at approximately $124,000.

Several other hedge funds have also modified their holdings of the company. Logan Capital Management Inc. lifted its holdings in shares of Bank Of New York Mellon by 1.6% during the second quarter. Logan Capital Management Inc. now owns 4,656 shares of the bank’s stock worth $238,000 after buying an additional 74 shares during the last quarter. National Asset Management Inc. raised its stake in shares of Bank Of New York Mellon by 0.4% in the second quarter. National Asset Management Inc. now owns 18,484 shares of the bank’s stock valued at $944,000 after purchasing an additional 75 shares in the last quarter. Bfsg LLC raised its stake in shares of Bank Of New York Mellon by 0.5% in the second quarter. Bfsg LLC now owns 34,696 shares of the bank’s stock valued at $1,770,000 after purchasing an additional 166 shares in the last quarter. Clear Perspective Advisors LLC raised its stake in shares of Bank Of New York Mellon by 1.5% in the second quarter. Clear Perspective Advisors LLC now owns 11,675 shares of the bank’s stock valued at $596,000 after purchasing an additional 175 shares in the last quarter. Finally, First Commonwealth Financial Corp PA raised its stake in shares of Bank Of New York Mellon by 4.1% in the second quarter. First Commonwealth Financial Corp PA now owns 4,490 shares of the bank’s stock valued at $229,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 82.92% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE BK) traded up $0.53 during trading on Thursday, reaching $57.83. The company’s stock had a trading volume of 3,476,238 shares, compared to its average volume of 4,230,000. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. Bank Of New York Mellon Corporation has a 1 year low of $43.85 and a 1 year high of $57.86. The firm has a market capitalization of $59,750.00, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.78 and a beta of 1.22.

Bank Of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts forecast that Bank Of New York Mellon Corporation will post 3.55 EPS for the current fiscal year.

A number of brokerages recently commented on BK. Vining Sparks restated a “buy” rating and issued a $62.00 target price on shares of Bank Of New York Mellon in a research note on Monday. Citigroup upgraded Bank Of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday. Zacks Investment Research lowered Bank Of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Jefferies Group restated a “hold” rating on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Finally, Credit Suisse Group restated a “hold” rating and issued a $55.00 target price on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Bank Of New York Mellon currently has an average rating of “Hold” and an average price target of $56.59.

In other news, Director Edward P. Garden sold 1,031,157 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $53.13, for a total transaction of $54,785,371.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total value of $1,139,407.28. Following the sale, the insider now owns 181,815 shares in the company, valued at approximately $9,319,836.90. The disclosure for this sale can be found here. Insiders have sold 7,708,334 shares of company stock valued at $404,956,863 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

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Bank Of New York Mellon Company Profile

The Bank of New York Mellon Corporation 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 the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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

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