November 24, 2016 - By Nellie Frank · 0 Comments
Bank Of New York Co Inc (NYSE:BK) institutional sentiment increased to 0.9 in Q2 2016. Its up 0.08, from 0.82 in 2016Q1. The ratio is better, as 289 hedge funds started new and increased equity positions, while 351 sold and decreased their equity positions in Bank Of New York Co Inc. The hedge funds in our partner’s database now own: 852.69 million shares, down from 886.64 million shares in 2016Q1. Also, the number of hedge funds holding Bank Of New York Co Inc in their top 10 equity positions decreased from 30 to 28 for a decrease of 2. Sold All: 64 Reduced: 287 Increased: 243 New Position: 46.
The Bank of New York Mellon Corporation is an investments company. The company has a market cap of $50.01 billion. The Firm operates businesses through two divisions: Investment Management and Investment Services. It has a 16.06 P/E ratio. The Firm also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.
The stock increased 0.47% or $0.22 on November 23, hitting $47.47. About 3.95M shares traded hands. Bank of New York Mellon Corp (NYSE:BK) has risen 15.61% since April 22, 2016 and is uptrending. It has outperformed by 10.20% the S&P500.
Analysts await Bank of New York Mellon Corp (NYSE:BK) to report earnings on January, 19. They expect $0.77 earnings per share, up 13.24% or $0.09 from last year’s $0.68 per share. BK’s profit will be $811.20M for 15.41 P/E if the $0.77 EPS becomes a reality. After $0.90 actual earnings per share reported by Bank of New York Mellon Corp for the previous quarter, Wall Street now forecasts -14.44% negative EPS growth.
According to Zacks Investment Research, “Bank of New York is a bank holding company and one of the world’s larger financial institutions. They provide comprehensive financial services to individuals, small and mid-sized businesses, multinational corporations, financial institutions, governments and public agencies worldwide. Their products and services are organized into five business lines: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Markets and Retail Banking.”
Marcato Capital Management Lp holds 33.19% of its portfolio in Bank of New York Mellon Corp for 10.55 million shares. Trian Fund Management L.P. owns 32.22 million shares or 11.93% of their US portfolio. Moreover, Kingstown Capital Management L.P. has 8.15% invested in the company for 1.85 million shares. The Delaware-based Cortland Advisers Llc has invested 7.72% in the stock. St. James Investment Company Llc, a Texas-based fund reported 1.30 million shares.#img1#
Ratings analysis reveals 60% of The Bank Of New York Mellon Corporation’s analysts are positive. Out of 15 Wall Street analysts rating The Bank Of New York Mellon Corporation, 9 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $38 while the high is $56. The stock’s average target of $46.07 is -2.95% below today’s ($47.47) share price. BK was included in 35 notes of analysts from July 22, 2015. The stock of Bank of New York Mellon Corp (NYSE:BK) earned “Overweight” rating by Barclays Capital on Friday, January 22. The rating was maintained by Deutsche Bank with “Buy” on Friday, August 5. Deutsche Bank maintained Bank of New York Mellon Corp (NYSE:BK) rating on Friday, September 9. Deutsche Bank has “Buy” rating and $51 price target. The firm has “Buy” rating given on Friday, January 22 by UBS. As per Friday, October 21, the company rating was upgraded by Morgan Stanley. The firm earned “Overweight” rating on Thursday, January 7 by JP Morgan. The rating was upgraded by Keefe Bruyette & Woods to “Outperform” on Friday, October 21. The rating was upgraded by Bank of America on Thursday, September 17 to “Buy”. Buckingham Research downgraded the stock to “Neutral” rating in Monday, November 21 report. The firm has “Outperform” rating given on Wednesday, August 5 by Bernstein.
The Bank of New York Mellon Corporation (BNY Mellon), incorporated on February 9, 2007, is an investments company. The Firm operates businesses through two divisions: Investment Management and Investment Services. The Firm also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead. The Firm has over $1.6 trillion in assets under management.
More notable recent Bank of New York Mellon Corp (NYSE:BK) news were published by: Prnewswire.com which released: “BNY Mellon Appointed Trustee and Paying Agent on Largest Ever Local Authority …” on November 22, 2016, also Blogs.Wsj.com with their article: “Fiserv Hires BNY Mellon Fintech Veteran as CIO” published on November 02, 2016, Prnewswire.com published: “BNY Mellon Launches Automated Medical Claims Payment Platform for Property and …” on November 17, 2016. More interesting news about Bank of New York Mellon Corp (NYSE:BK) were released by: Prnewswire.com and their article: “BNY Mellon Launches Middle Office Solutions for State of Wisconsin Investment …” published on November 15, 2016 as well as Nasdaq.com‘s news article titled: “Here’s Why BNY Mellon (BK) Should Be in Your Portfolio Now” with publication date: November 16, 2016.
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By Nellie Frank