Edmond DE Rothschild Holding S.A. Sells 10,000 Shares of Bank of New York Mellon Corp (NYSE:BK)

Edmond DE Rothschild Holding S.A. decreased its position in Bank of New York Mellon Corp (NYSE:BK) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 453,860 shares of the bank’s stock after selling 10,000 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Bank of New York Mellon were worth $22,888,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Bank of New York Mellon by 13.3% during the 4th quarter. CWM LLC now owns 1,728 shares of the bank’s stock worth $81,000 after purchasing an additional 203 shares during the last quarter. Marathon Capital Management raised its holdings in Bank of New York Mellon by 1.9% during the 4th quarter. Marathon Capital Management now owns 11,040 shares of the bank’s stock worth $519,000 after purchasing an additional 210 shares during the last quarter. Highstreet Asset Management Inc. raised its holdings in Bank of New York Mellon by 1.9% during the 4th quarter. Highstreet Asset Management Inc. now owns 11,558 shares of the bank’s stock worth $544,000 after purchasing an additional 216 shares during the last quarter. Boston Family Office LLC raised its holdings in Bank of New York Mellon by 1.4% during the 4th quarter. Boston Family Office LLC now owns 16,581 shares of the bank’s stock worth $780,000 after purchasing an additional 225 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Bank of New York Mellon by 5.5% during the 1st quarter. Parallel Advisors LLC now owns 4,298 shares of the bank’s stock worth $217,000 after purchasing an additional 225 shares during the last quarter. 84.23% of the stock is currently owned by institutional investors.

NYSE BK traded up $0.76 on Friday, reaching $44.15. The stock had a trading volume of 7,683,500 shares, compared to its average volume of 5,038,851. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s fifty day moving average is $44.71. Bank of New York Mellon Corp has a 1-year low of $42.13 and a 1-year high of $55.69. The stock has a market capitalization of $42.28 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.31 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. Bank of New York Mellon had a net margin of 20.69% and a return on equity of 10.98%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. Analysts forecast that Bank of New York Mellon Corp will post 3.99 EPS for the current fiscal year.

Bank of New York Mellon declared that its board has approved a stock repurchase plan on Thursday, June 27th that permits the company to repurchase $3.94 billion in shares. This repurchase authorization permits the bank to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Several equities analysts recently issued reports on the company. Royal Bank of Canada decreased their price objective on Bank of New York Mellon to $52.00 and set a “positive” rating for the company in a research report on Thursday, April 18th. Deutsche Bank boosted their price objective on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Morgan Stanley decreased their price objective on Bank of New York Mellon from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, June 5th. Buckingham Research reduced their price target on Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Finally, Zacks Investment Research downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Bank of New York Mellon has an average rating of “Hold” and a consensus price target of $51.10.

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $49.43, for a total value of $1,235,750.00. Following the sale, the executive vice president now directly owns 93,418 shares of the company’s stock, valued at $4,617,651.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 621,807 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.11, for a total value of $31,158,748.77. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

Bank of New York Mellon 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.

See Also: Quiet Period

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

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