Bank of New York Mellon Corp (BK) Holdings Decreased by Telemus Capital LLC

Telemus Capital LLC lessened its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 2.4% during the first quarter, HoldingsChannel.com reports. The firm owned 38,504 shares of the bank’s stock after selling 961 shares during the quarter. Telemus Capital LLC’s holdings in Bank of New York Mellon were worth $1,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lavaca Capital LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $27,000. C J Advisory Inc purchased a new position in shares of Bank of New York Mellon in the 1st quarter worth $28,000. Berman Capital Advisors LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $33,000. Sontag Advisory LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $33,000. Finally, Valley National Advisers Inc. raised its position in shares of Bank of New York Mellon by 76.5% in the 4th quarter. Valley National Advisers Inc. now owns 713 shares of the bank’s stock worth $34,000 after buying an additional 309 shares during the period. 87.67% of the stock is currently owned by institutional investors and hedge funds.

BK has been the topic of several research reports. Deutsche Bank raised their price objective on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Vining Sparks reissued a “buy” rating and issued a $55.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Zacks Investment Research raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Monday, January 21st. ValuEngine raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Buckingham Research cut their price objective on Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $53.75.

In other news, CEO Charles W. Scharf sold 4,674 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $52.99, for a total transaction of $247,675.26. Following the completion of the sale, the chief executive officer now directly owns 304,118 shares in the company, valued at $16,115,212.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 1,336 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.00, for a total value of $69,472.00. The disclosure for this sale can be found here. Insiders have sold 853,244 shares of company stock valued at $43,210,239 over the last 90 days. Insiders own 1.71% of the company’s stock.

Shares of Bank of New York Mellon stock traded up $0.18 during trading hours on Wednesday, hitting $48.32. 750,243 shares of the company’s stock traded hands, compared to its average volume of 4,963,261. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.68 and a quick ratio of 0.70. The company has a market capitalization of $47.71 billion, a PE ratio of 11.48, a P/E/G ratio of 1.48 and a beta of 1.01. Bank of New York Mellon Corp has a twelve month low of $43.67 and a twelve month high of $58.22.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.02). The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. Bank of New York Mellon had a net margin of 20.69% and a return on equity of 10.98%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, equities analysts expect that Bank of New York Mellon Corp will post 4.08 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, April 26th. This represents a $1.12 annualized dividend and a dividend yield of 2.32%. Bank of New York Mellon’s dividend payout ratio is presently 26.60%.

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Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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