Flippin Bruce & Porter Inc. Lowers Position in Bank Of New York Mellon Corporation (The) (BK)

Flippin Bruce & Porter Inc. lowered its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,532 shares of the bank’s stock after selling 2,525 shares during the period. Flippin Bruce & Porter Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $4,270,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Comerica Bank grew its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.6% in the 3rd quarter. Comerica Bank now owns 323,728 shares of the bank’s stock worth $16,721,000 after acquiring an additional 1,844 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Bank Of New York Mellon Corporation (The) by 12.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 207,376 shares of the bank’s stock worth $11,152,000 after acquiring an additional 22,663 shares during the period. Montag A & Associates Inc. grew its holdings in shares of Bank Of New York Mellon Corporation (The) by 765.9% in the 3rd quarter. Montag A & Associates Inc. now owns 90,388 shares of the bank’s stock worth $4,792,000 after acquiring an additional 79,949 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Bank Of New York Mellon Corporation (The) by 65.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 178,305 shares of the bank’s stock worth $9,454,000 after acquiring an additional 70,293 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Bank Of New York Mellon Corporation (The) by 1.0% in the 3rd quarter. Rhumbline Advisers now owns 1,746,821 shares of the bank’s stock worth $92,616,000 after acquiring an additional 16,839 shares during the period. Institutional investors and hedge funds own 82.73% of the company’s stock.

A number of research firms recently issued reports on BK. Wells Fargo & Company began coverage on Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price on the stock. BidaskClub lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, October 20th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $55.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Hold” and an average price target of $55.28.

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In related news, Chairman Gerald L. Hassell sold 24,280 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total value of $1,255,033.20. Following the transaction, the chairman now directly owns 857,899 shares of the company’s stock, valued at approximately $44,344,799.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The disclosure for this sale can be found here. Insiders sold a total of 6,920,640 shares of company stock worth $363,489,801 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (BK) traded up $0.09 on Tuesday, hitting $51.02. The company had a trading volume of 3,058,000 shares, compared to its average volume of 4,560,679. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock has a market cap of $53,470.00, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.92 and a beta of 1.21. Bank Of New York Mellon Corporation has a twelve month low of $43.85 and a twelve month high of $55.29.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. equities research analysts forecast that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is currently 28.24%.

Bank Of New York Mellon Corporation (The) 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 Corporation (The) (NYSE:BK)

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