Lindbrook Capital LLC Has $210,000 Holdings in Bank of New York Mellon Corp (NYSE:BK)

Lindbrook Capital LLC grew its position in Bank of New York Mellon Corp (NYSE:BK) by 178.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,763 shares of the bank’s stock after purchasing an additional 3,054 shares during the period. Lindbrook Capital LLC’s holdings in Bank of New York Mellon were worth $210,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BK. Geode Capital Management LLC boosted its stake in shares of Bank of New York Mellon by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 10,721,814 shares of the bank’s stock worth $503,675,000 after acquiring an additional 655,356 shares in the last quarter. Ronna Sue Cohen boosted its stake in shares of Bank of New York Mellon by 4,919.9% during the 1st quarter. Ronna Sue Cohen now owns 2,207,487 shares of the bank’s stock worth $2,207,000 after acquiring an additional 2,163,512 shares in the last quarter. Marathon Asset Management LLP boosted its stake in shares of Bank of New York Mellon by 13.6% during the 2nd quarter. Marathon Asset Management LLP now owns 1,550,270 shares of the bank’s stock worth $68,439,000 after acquiring an additional 185,144 shares in the last quarter. PGGM Investments boosted its stake in shares of Bank of New York Mellon by 54.2% during the 1st quarter. PGGM Investments now owns 1,469,539 shares of the bank’s stock worth $74,109,000 after acquiring an additional 516,424 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Bank of New York Mellon by 0.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,262,352 shares of the bank’s stock worth $63,660,000 after acquiring an additional 11,228 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors.

Shares of NYSE:BK opened at $46.03 on Friday. The firm’s 50 day simple moving average is $44.64. Bank of New York Mellon Corp has a twelve month low of $42.13 and a twelve month high of $54.27. The company has a market cap of $44.93 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.68 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, July 17th. The bank reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.07. Bank of New York Mellon had a return on equity of 10.74% and a net margin of 19.93%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts predict that Bank of New York Mellon Corp will post 3.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Monday, July 29th will be paid a dividend of $0.31 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, July 26th. This represents a $1.24 annualized dividend and a yield of 2.69%. Bank of New York Mellon’s dividend payout ratio is presently 29.45%.

Bank of New York Mellon declared that its board has approved a stock repurchase plan on Thursday, June 27th that permits the company to repurchase $3.94 billion in shares. This repurchase authorization permits the bank to buy up to 9.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Several analysts have recently issued reports on BK shares. Morgan Stanley downgraded Bank of New York Mellon from an “overweight” rating to an “underweight” rating in a research note on Monday, July 8th. Zacks Investment Research upgraded Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. UBS Group decreased their price target on Bank of New York Mellon from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Deutsche Bank downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and decreased their price target for the stock from $50.00 to $44.00 in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada decreased their price target on Bank of New York Mellon to $52.00 and set a “positive” rating for the company in a research note on Thursday, April 18th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $50.45.

In other Bank of New York Mellon news, Vice Chairman William M. Daley bought 11,350 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $44.93 per share, for a total transaction of $509,955.50. Following the purchase, the insider now directly owns 5,700 shares in the company, valued at $256,101. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Thomas P. Gibbons sold 318,556 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.72, for a total value of $14,882,936.32. Following the completion of the transaction, the insider now directly owns 539,052 shares of the company’s stock, valued at approximately $25,184,509.44. The disclosure for this sale can be found here. 1.71% 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 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.

See Also: Marijuana Stocks

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

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.