Rosenberg Matthew Hamilton Increases Stock Position in The Bank of New York Mellon Corporation $BK

Rosenberg Matthew Hamilton lifted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 12.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,215 shares of the bank’s stock after purchasing an additional 242 shares during the period. Rosenberg Matthew Hamilton’s holdings in Bank of New York Mellon were worth $202,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. lifted its position in shares of Bank of New York Mellon by 1.9% in the 1st quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank’s stock worth $1,010,093,000 after purchasing an additional 221,613 shares during the period. Nuveen LLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter worth approximately $773,627,000. Invesco Ltd. lifted its position in Bank of New York Mellon by 8.8% during the first quarter. Invesco Ltd. now owns 8,264,176 shares of the bank’s stock valued at $693,116,000 after acquiring an additional 667,966 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Bank of New York Mellon by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank’s stock valued at $681,492,000 after acquiring an additional 436,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after purchasing an additional 1,052,145 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK opened at $108.94 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day moving average price is $105.45 and its 200 day moving average price is $94.16. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The company has a market cap of $76.83 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.00 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm had revenue of $4.38 billion for the quarter. As a group, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president owned 35,115 shares of the company’s stock, valued at $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BK has been the topic of several analyst reports. BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target on the stock. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Wednesday, October 8th. Citigroup boosted their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.77.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.