Trade Report: Today, Westbourne Investment Advisors Inc. Sold shares of Bank Of New York Mellon Corp. (BK)

Today, Westbourne Investment Advisors Inc. Sold shares of Bank Of New York Mellon Corp. (BK)

Westbourne Investment Advisors Inc. reduced its stake in Bank Of New York Mellon Corp. (NYSE:BK) by 2.2% during the third quarter, Holdings Channel reports. The institutional investor owned 5,160 shares of the company’s stock after selling 115 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Bank Of New York Mellon Corp. were worth $206,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in BK. BlueMountain Capital Management LLC purchased a new stake in Bank Of New York Mellon Corp. during the first quarter worth $408,000. Barnett & Company Inc. purchased a new stake in Bank Of New York Mellon Corp. during the first quarter worth $124,000. Kistler Tiffany Companies LLC increased its stake in Bank Of New York Mellon Corp. by 5.5% in the second quarter. Kistler Tiffany Companies LLC now owns 4,103 shares of the company’s stock worth $159,000 after buying an additional 213 shares during the period. Integrated Investment Consultants LLC increased its stake in Bank Of New York Mellon Corp. by 11.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,912 shares of the company’s stock worth $113,000 after buying an additional 308 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Bank Of New York Mellon Corp. by 2.1% in the second quarter. Raymond James Trust N.A. now owns 36,725 shares of the company’s stock worth $1,426,000 after buying an additional 739 shares during the period. 82.89% of the stock is owned by hedge funds and other institutional investors.

Bank Of New York Mellon Corp. (NYSE:BK) remained flat at $47.47 during trading on Friday. The company had a trading volume of 2,321,707 shares. Bank Of New York Mellon Corp. has a 1-year low of $32.20 and a 1-year high of $47.96. The firm has a market capitalization of $50.19 billion, a P/E ratio of 16.06 and a beta of 1.30. The company’s 50 day moving average is $43.49 and its 200-day moving average is $41.01.

Bank Of New York Mellon Corp. (NYSE:BK) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.86 billion. Bank Of New York Mellon Corp. had a return on equity of 9.66% and a net margin of 21.65%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. On average, analysts anticipate that Bank Of New York Mellon Corp. will post $3.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Tuesday, November 1st were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.76 annualized dividend and a yield of 1.60%. Bank Of New York Mellon Corp.’s dividend payout ratio is 25.68%.

A number of brokerages have recently commented on BK. Keefe, Bruyette & Woods raised Bank Of New York Mellon Corp. from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $48.00 to $50.00 in a report on Friday, October 21st. Barclays PLC reissued a “buy” rating and set a $48.00 price objective on shares of Bank Of New York Mellon Corp. in a report on Tuesday, October 11th. Zacks Investment Research raised Bank Of New York Mellon Corp. from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Friday, October 14th. Credit Suisse Group AG set a $42.00 price objective on Bank Of New York Mellon Corp. and gave the company a “hold” rating in a report on Tuesday, August 9th. Finally, Deutsche Bank AG increased their price objective on Bank Of New York Mellon Corp. from $46.00 to $47.00 and gave the company a “buy” rating in a report on Friday, August 5th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.13.

In other news, insider Mitchell E. Harris sold 28,779 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $43.55, for a total value of $1,253,325.45. Following the transaction, the insider now owns 166,196 shares of the company’s stock, valued at $7,237,835.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald L. Hassell sold 191,042 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $43.22, for a total value of $8,256,835.24. Following the completion of the transaction, the chief executive officer now directly owns 1,003,176 shares in the company, valued at approximately $43,357,266.72. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Bank Of New York Mellon Corp. Company Profile

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.

Related posts

Leave a Comment