Afam Capital Inc. #Trims Position in #Bank of #New York #Mellon #Corp (BK)

Afam Capital Inc. cut its stake in Bank of New York Mellon Corp (NYSE:BK) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,606 shares of the bank’s stock after selling 1,416 shares during the period. Afam Capital Inc.’s holdings in Bank of New York Mellon were worth $6,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisory Services Network LLC increased its stake in Bank of New York Mellon by 15.5% in the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after purchasing an additional 363 shares during the period. Atria Investments LLC increased its stake in Bank of New York Mellon by 7.6% in the fourth quarter. Atria Investments LLC now owns 12,263 shares of the bank’s stock valued at $660,000 after purchasing an additional 871 shares during the period. Winslow Evans & Crocker Inc. increased its stake in Bank of New York Mellon by 13.4% in the third quarter. Winslow Evans & Crocker Inc. now owns 8,898 shares of the bank’s stock valued at $472,000 after purchasing an additional 1,051 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in Bank of New York Mellon by 2.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 40,683 shares of the bank’s stock valued at $2,157,000 after purchasing an additional 1,100 shares during the period. Finally, SevenBridge Financial Group LLC increased its stake in Bank of New York Mellon by 4.0% in the third quarter. SevenBridge Financial Group LLC now owns 28,864 shares of the bank’s stock valued at $1,530,000 after purchasing an additional 1,108 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Edward P. Garden sold 650,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.60, for a total transaction of $34,190,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas P. Gibbons sold 38,152 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the sale, the chief financial officer now directly owns 310,002 shares in the company, valued at approximately $16,786,608.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 831,944 shares of company stock worth $43,807,887. 3.60% of the stock is owned by insiders.

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Vining Sparks restated a “hold” rating and issued a $60.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 24th. Barclays restated a “buy” rating on shares of Bank of New York Mellon in a research note on Sunday, January 21st. JPMorgan Chase & Co. lowered shares of Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price objective on the stock. in a research note on Friday, January 19th. Finally, Sandler O’Neill restated a “hold” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Friday, January 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Bank of New York Mellon has an average rating of “Hold” and an average target price of $56.76.
Shares of Bank of New York Mellon Corp (NYSE:BK) opened at $56.25 on Friday. The company has a market cap of $57,600.00, a PE ratio of 18.50, a P/E/G ratio of 1.79 and a beta of 1.21. Bank of New York Mellon Corp has a fifty-two week low of $45.12 and a fifty-two week high of $58.99. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. analysts forecast that Bank of New York Mellon Corp will post 4.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is currently 31.58%.

About Bank of New York Mellon

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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