M&T #Bank Corp #Reduces #Stake in #Bank of New York Mellon #Corp

M&T Bank Corp lowered its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,355 shares of the bank’s stock after selling 5,805 shares during the quarter. M&T Bank Corp’s holdings in Bank of New York Mellon were worth $8,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Country Trust Bank increased its position in shares of Bank of New York Mellon by 4.1% in the third quarter. Country Trust Bank now owns 606,030 shares of the bank’s stock worth $32,132,000 after purchasing an additional 23,683 shares during the period. Toronto Dominion Bank increased its position in shares of Bank of New York Mellon by 24.7% in the second quarter. Toronto Dominion Bank now owns 364,150 shares of the bank’s stock worth $18,577,000 after purchasing an additional 72,058 shares during the period. Sei Investments Co. increased its position in shares of Bank of New York Mellon by 7.4% in the third quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock worth $54,102,000 after purchasing an additional 70,619 shares during the period. Rothschild Asset Management Inc. bought a new position in shares of Bank of New York Mellon in the third quarter worth $612,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Bank of New York Mellon in the third quarter worth $748,000. 83.67% of the stock is owned by institutional investors.

In other news, Director Edward P. Garden sold 143,792 shares of Bank of New York Mellon stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total transaction of $7,551,955.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas P. Gibbons sold 38,152 shares of Bank of New York Mellon stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $54.15, for a total value of $2,065,930.80. Following the sale, the chief financial officer now directly owns 310,002 shares in the company, valued at $16,786,608.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 831,944 shares of company stock worth $43,807,887. Company insiders own 3.60% of the company’s stock.

A number of research analysts recently commented on BK shares. Barclays restated a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Royal Bank of Canada restated a “hold” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, November 15th. JPMorgan Chase & Co. cut Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price target on the stock. in a research report on Friday, January 19th. Vining Sparks restated a “hold” rating and issued a $60.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 24th. Finally, Morgan Stanley upgraded Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Bank of New York Mellon currently has a consensus rating of “Hold” and an average price target of $56.76.
Bank of New York Mellon Corp (BK) opened at $54.08 on Monday. Bank of New York Mellon Corp has a 12-month low of $45.12 and a 12-month high of $58.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69. The stock has a market capitalization of $54,806.94, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Tuesday, January 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is presently 25.74%.

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