Daiwa Securities Group Inc. Raises Holdings in Bank of New York Mellon Corp (BK)

Daiwa Securities Group Inc. grew its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,819 shares of the bank’s stock after purchasing an additional 2,168 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Bank of New York Mellon were worth $2,285,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Townsend & Associates Inc lifted its position in Bank of New York Mellon by 7.3% in the second quarter. Townsend & Associates Inc now owns 13,452 shares of the bank’s stock valued at $725,000 after purchasing an additional 916 shares during the period. Segall Bryant & Hamill LLC lifted its position in Bank of New York Mellon by 0.8% in the second quarter. Segall Bryant & Hamill LLC now owns 114,420 shares of the bank’s stock valued at $6,171,000 after purchasing an additional 954 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Bank of New York Mellon by 6.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 14,762 shares of the bank’s stock valued at $796,000 after purchasing an additional 959 shares during the period. Country Club Trust Company n.a. lifted its position in Bank of New York Mellon by 1.0% in the second quarter. Country Club Trust Company n.a. now owns 100,827 shares of the bank’s stock valued at $5,437,000 after purchasing an additional 982 shares during the period. Finally, James Investment Research Inc. lifted its position in Bank of New York Mellon by 2.9% in the second quarter. James Investment Research Inc. now owns 35,270 shares of the bank’s stock valued at $1,902,000 after purchasing an additional 990 shares during the period. 83.47% of the stock is currently owned by institutional investors.

BK stock opened at $48.50 on Friday. Bank of New York Mellon Corp has a 12-month low of $45.16 and a 12-month high of $58.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $48.22 billion, a PE ratio of 11.90, a P/E/G ratio of 1.51 and a beta of 1.04.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Thursday, October 18th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. Bank of New York Mellon had a net margin of 24.92% and a return on equity of 11.48%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the firm earned $0.94 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts forecast that Bank of New York Mellon Corp will post 4.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Tuesday, October 30th were given a dividend of $0.28 per share. The ex-dividend date was Monday, October 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.31%. Bank of New York Mellon’s payout ratio is 31.11%.

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods set a $56.00 price objective on shares of Bank of New York Mellon and gave the company a “hold” rating in a research report on Thursday, July 19th. ValuEngine downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Sandler O’Neill restated a “hold” rating on shares of Bank of New York Mellon in a research report on Friday, July 13th. Vining Sparks restated a “buy” rating and issued a $62.00 price objective on shares of Bank of New York Mellon in a research report on Monday, July 23rd. Finally, Zacks Investment Research downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Bank of New York Mellon has an average rating of “Hold” and a consensus target price of $58.38.

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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.

Further Reading: Return on Investment (ROI)

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

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