Today’s Ownership Action: Bank Of New York Co Inc (NYSE:BK) Institutional Investor Sentiment Trend

January 11, 2017 - By Adrian Mccoy   ·   0 Comments

Today's Ownership Action: Bank Of New York Co Inc (NYSE:BK) Institutional Investor Sentiment Trend

Sentiment for Bank Of New York Co Inc (NYSE:BK)

Bank Of New York Co Inc (NYSE:BK) institutional sentiment increased to 0.9 in Q3 2016. Its up 0.08, from 0.82 in 2016Q2. The ratio has increased, as 313 active investment managers opened new and increased positions, while 349 sold and decreased their holdings in Bank Of New York Co Inc. The active investment managers in our partner’s database now have: 836.26 million shares, down from 852.69 million shares in 2016Q2. Also, the number of active investment managers holding Bank Of New York Co Inc in their top 10 positions increased from 28 to 29 for an increase of 1. Sold All: 46 Reduced: 303 Increased: 233 New Position: 80.

The Bank of New York Mellon Corporation is an investments company. The company has a market cap of $50.51 billion. The Firm operates businesses through two divisions: Investment Management and Investment Services. It has a 16.14 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.

About 2.56 million shares traded hands. Bank of New York Mellon Corp (NYSE:BK) has risen 13.51% since June 7, 2016 and is uptrending. It has outperformed by 6.09% the S&P500.

Analysts await Bank of New York Mellon Corp (NYSE:BK) to report earnings on January, 19. They expect $0.77 EPS, up 13.24% or $0.09 from last year’s $0.68 per share. BK’s profit will be $815.53 million for 15.48 P/E if the $0.77 EPS becomes a reality. After $0.90 actual EPS 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.”

Trian Fund Management L.P. holds 12.61% of its portfolio in Bank of New York Mellon Corp for 32.37 million shares. Marcato Capital Management Lp owns 2.90 million shares or 9.98% of their US portfolio. Moreover, Cortland Advisers Llc has 7.95% invested in the company for 3.89 million shares. The Texas-based St. James Investment Company Llc has invested 6.97% in the stock. Kingstown Capital Management L.P., a New York-based fund reported 1.50 million shares.#img1#

Bank of New York Mellon Corp (NYSE:BK) Ratings Coverage

Ratings analysis reveals 56% of The Bank Of New York Mellon Corporation’s analysts are positive. Out of 16 Wall Street analysts rating The Bank Of New York Mellon Corporation, 9 give it “Buy”, 0 “Sell” rating, while 7 recommend “Hold”. The lowest target is $5 while the high is $56. The stock’s average target of $44 is -7.74% below today’s ($47.69) share price. BK was included in 38 notes of analysts from July 22, 2015. The company was maintained on Tuesday, July 21 by Argus Research. The firm earned “Overweight” rating on Thursday, January 7 by JP Morgan. As per Tuesday, January 26, the company rating was maintained by Deutsche Bank. The firm earned “Buy” rating on Friday, January 22 by UBS. The rating was maintained by Jefferies with “Hold” on Monday, July 11. On Friday, January 6 the stock rating was downgraded by JP Morgan to “Neutral”. The company was upgraded on Friday, October 21 by Morgan Stanley. The stock of Bank of New York Mellon Corp (NYSE:BK) earned “Buy” rating by Deutsche Bank on Wednesday, September 9. On Wednesday, October 7 the stock rating was maintained by Jefferies with “Hold”. The firm earned “Buy” rating on Friday, January 8 by Deutsche Bank.

BK Company Profile

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: Bna.com which released: “BNY Mellon Not Liable for Pension Investment Mishap” on January 11, 2017, also Prnewswire.com with their article: “Braskem SA Appoints BNY Mellon as Depositary Bank” published on January 05, 2017, Reuters.com published: “MOVES-BNY Mellon Wealth Management names new national sales director” on January 09, 2017. More interesting news about Bank of New York Mellon Corp (NYSE:BK) were released by: Finance.Yahoo.com and their article: “BNY Mellon Selected by Covestro AG for its Sponsored Depositary Receipt Program” published on January 10, 2017 as well as Reuters.com‘s news article titled: “CORRECTED-MOVES-BNY Mellon Wealth Management promotes Michael Silane to re…” with publication date: January 06, 2017.

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By Adrian Mccoy

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