Sicart Associates LLC Takes Position in Bank Of New York Mellon Corporation (The) (BK)

Sicart Associates LLC bought a new stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 34,150 shares of the company’s stock, valued at approximately $1,618,000.

Several other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in shares of Bank Of New York Mellon Corporation (The) by 1.4% in the second quarter. Nordea Investment Management AB now owns 49,829 shares of the company’s stock valued at $1,936,000 after buying an additional 679 shares in the last quarter. Signaturefd LLC boosted its position in shares of Bank Of New York Mellon Corporation (The) by 16.3% in the second quarter. Signaturefd LLC now owns 7,795 shares of the company’s stock valued at $303,000 after buying an additional 1,090 shares in the last quarter. Gibraltar Capital Management Inc. boosted its position in shares of Bank Of New York Mellon Corporation (The) by 1.1% in the second quarter. Gibraltar Capital Management Inc. now owns 105,395 shares of the company’s stock valued at $4,095,000 after buying an additional 1,168 shares in the last quarter. Yacktman Asset Management LP boosted its position in shares of Bank Of New York Mellon Corporation (The) by 0.6% in the second quarter. Yacktman Asset Management LP now owns 5,980,155 shares of the company’s stock valued at $232,329,000 after buying an additional 35,115 shares in the last quarter. Finally, Courier Capital Corp boosted its position in shares of Bank Of New York Mellon Corporation (The) by 195.4% in the second quarter. Courier Capital Corp now owns 30,990 shares of the company’s stock valued at $1,204,000 after buying an additional 20,500 shares in the last quarter. Hedge funds and other institutional investors own 82.32% of the company’s stock.

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

Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at 45.56 on Friday. The company has a market capitalization of $47.72 billion, a price-to-earnings ratio of 14.46 and a beta of 1.32. Bank Of New York Mellon Corporation has a 12-month low of $33.82 and a 12-month high of $49.54. The company’s 50-day moving average is $46.26 and its 200-day moving average is $43.63.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its earnings results on Thursday, January 19th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Bank Of New York Mellon Corporation (The) had a return on equity of 9.74% and a net margin of 22.64%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that Bank Of New York Mellon Corporation will post $3.47 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 10th. Shareholders of record on Tuesday, January 31st were paid a $0.19 dividend. The ex-dividend date was Friday, January 27th. This represents a $0.76 annualized dividend and a yield of 1.67%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 24.05%.

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Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Bank Of New York Mellon Corporation (The) from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $50.00 in a research note on Friday, October 21st. Zacks Investment Research cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, January 24th. Barclays PLC reissued a “buy” rating and issued a $48.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, November 9th. Buckingham Research cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Monday, November 21st. Finally, Credit Suisse Group began coverage on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, November 22nd. They issued a “neutral” rating and a $46.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $49.00.

In other news, Vice Chairman Brian T. Shea sold 199,676 shares of the business’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $45.07, for a total transaction of $8,999,397.32. Following the sale, the insider now owns 348,486 shares in the company, valued at $15,706,264.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

About Bank Of New York Mellon Corporation (The)

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.

5 Day Chart for NYSE:BK

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