Cwm LLC Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Cwm LLC lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 376,924 shares of the bank’s stock after selling 30,671 shares during the period. Cwm LLC owned approximately 0.05% of Bank of New York Mellon worth $27,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI lifted its stake in Bank of New York Mellon by 4.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock worth $231,000 after purchasing an additional 165 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in Bank of New York Mellon by 3.8% during the 2nd quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after acquiring an additional 171 shares in the last quarter. Greenleaf Trust boosted its holdings in Bank of New York Mellon by 0.7% during the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after acquiring an additional 187 shares during the period. 1858 Wealth Management LLC grew its position in Bank of New York Mellon by 4.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock valued at $291,000 after acquiring an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. increased its stake in Bank of New York Mellon by 1.9% during the first quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after purchasing an additional 189 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BK has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley upped their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. UBS Group boosted their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $72.92.

Bank of New York Mellon Price Performance

BK stock opened at $74.45 on Friday. The business has a 50 day moving average price of $67.95 and a 200 day moving average price of $62.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market cap of $55.67 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.24 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $74.47.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current fiscal year.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.