Bank of New York Mellon Corp (BK) Shares Sold by Rampart Investment Management Company LLC

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Rampart Investment Management Company LLC trimmed its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 10.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 41,497 shares of the bank’s stock after selling 4,789 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Bank of New York Mellon were worth $2,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its position in Bank of New York Mellon by 31.3% during the 1st quarter. Royal Bank of Canada now owns 1,424,238 shares of the bank’s stock worth $73,390,000 after purchasing an additional 339,554 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Bank of New York Mellon by 4.0% during the 1st quarter. Baird Financial Group Inc. now owns 96,707 shares of the bank’s stock valued at $4,983,000 after acquiring an additional 3,708 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $513,000. SRS Capital Advisors Inc. grew its holdings in shares of Bank of New York Mellon by 5,492.6% during the 1st quarter. SRS Capital Advisors Inc. now owns 10,626 shares of the bank’s stock valued at $547,000 after acquiring an additional 10,436 shares in the last quarter. Finally, Sather Financial Group Inc grew its holdings in shares of Bank of New York Mellon by 29.0% during the 1st quarter. Sather Financial Group Inc now owns 168,924 shares of the bank’s stock valued at $8,705,000 after acquiring an additional 37,928 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

BK stock opened at $52.19 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.69 and a quick ratio of 0.69. Bank of New York Mellon Corp has a 1 year low of $49.39 and a 1 year high of $58.99. The firm has a market capitalization of $52.25 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.63 and a beta of 1.04.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, July 19th. The bank reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. Bank of New York Mellon had a net margin of 25.08% and a return on equity of 11.40%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the business earned $0.88 EPS. Bank of New York Mellon’s quarterly revenue was up 4.6% compared to the same quarter last year. equities analysts forecast that Bank of New York Mellon Corp will post 4.18 earnings per share for the current year.

Bank of New York Mellon announced that its board has initiated a stock repurchase plan on Thursday, June 28th that allows the company to repurchase $2.40 billion in shares. This repurchase authorization allows the bank to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Tuesday, July 31st were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, July 30th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.24. Bank of New York Mellon’s payout ratio is presently 31.11%.

Several research firms have recently commented on BK. Zacks Investment Research cut shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. ValuEngine cut shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Vining Sparks restated a “buy” rating and set a $62.00 price target on shares of Bank of New York Mellon in a report on Monday, July 23rd. Keefe, Bruyette & Woods set a $56.00 price target on shares of Bank of New York Mellon and gave the company a “hold” rating in a report on Thursday, July 19th. Finally, Sandler O’Neill restated a “hold” rating on shares of Bank of New York Mellon in a report on Friday, July 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Bank of New York Mellon has an average rating of “Hold” and an average target price of $58.70.

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

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