Calamos Advisors LLC increased its position in Bank of New York Mellon Corp (NYSE:BK) by 77.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 349,171 shares of the bank’s stock after purchasing an additional 152,519 shares during the period. Calamos Advisors LLC’s holdings in Bank of New York Mellon were worth $17,574,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atwater Malick LLC bought a new stake in Bank of New York Mellon in the third quarter valued at $31,000. Penserra Capital Management LLC bought a new stake in Bank of New York Mellon in the third quarter valued at $39,000. Stonebridge Capital Advisors LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $43,000. Bourgeon Capital Management LLC bought a new stake in Bank of New York Mellon in the third quarter valued at $45,000. Finally, Baystate Wealth Management LLC boosted its holdings in Bank of New York Mellon by 386.0% in the third quarter. Baystate Wealth Management LLC now owns 1,006 shares of the bank’s stock valued at $45,000 after acquiring an additional 799 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on BK shares. Credit Suisse Group lifted their price target on shares of Bank of New York Mellon from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Standpoint Research started coverage on shares of Bank of New York Mellon in a report on Monday, December 23rd. They issued an “accumulate” rating on the stock. Citigroup lifted their price target on shares of Bank of New York Mellon from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Deutsche Bank cut their price target on shares of Bank of New York Mellon from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, Wolfe Research upgraded shares of Bank of New York Mellon from a “peer perform” rating to an “outperform” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $51.60.
Shares of BK stock opened at $50.69 on Thursday. Bank of New York Mellon Corp has a 12 month low of $40.52 and a 12 month high of $54.27. The stock has a market cap of $47.04 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average price is $50.19 and its 200-day moving average price is $46.47.
Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, October 16th. The bank reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Bank of New York Mellon had a net margin of 19.31% and a return on equity of 10.57%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The company’s quarterly revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Bank of New York Mellon Corp will post 3.99 earnings per share for the current fiscal year.
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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