Stewart Patten Co buys $9,445,521 stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Stewart Patten Co scooped up 3,513 additional shares in Bank of New York Mellon Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 18, 2016. The investment management firm now holds a total of 236,079 shares of Bank of New York Mellon Corp which is valued at $9,445,521.Bank of New York Mellon Corp makes up approximately 1.80% of Stewart Patten Co’s portfolio.

Other Hedge Funds, Including , Regentatlantic Capital reduced its stake in BK by selling 752 shares or 10.98% in the most recent quarter. The Hedge Fund company now holds 6,095 shares of BK which is valued at $243,861. Bank of New York Mellon Corp makes up approx 0.02% of Regentatlantic Capital’s portfolio.Lodestar Investment Counselil reduced its stake in BK by selling 27,515 shares or 37.82% in the most recent quarter. The Hedge Fund company now holds 45,233 shares of BK which is valued at $1,806,154. Bank of New York Mellon Corp makes up approx 0.25% of Lodestar Investment Counselil’s portfolio.Murphy Pohlad Asset Management boosted its stake in BK in the latest quarter, The investment management firm added 1,150 additional shares and now holds a total of 102,871 shares of Bank of New York Mellon Corp which is valued at $4,054,146. Bank of New York Mellon Corp makes up approx 2.94% of Murphy Pohlad Asset Management’s portfolio.North Star Investment Management Corp. boosted its stake in BK in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 5,207 shares of Bank of New York Mellon Corp which is valued at $205,208. Bank of New York Mellon Corp makes up approx 0.04% of North Star Investment Management Corp.’s portfolio.Summit Financial Wealth Advisors reduced its stake in BK by selling 3,519 shares or 3.15% in the most recent quarter. The Hedge Fund company now holds 108,264 shares of BK which is valued at $4,167,081. Bank of New York Mellon Corp makes up approx 1.72% of Summit Financial Wealth Advisors’s portfolio.

Bank of New York Mellon Corp opened for trading at $40 and hit $40.03 on the upside on Wednesday, eventually ending the session at $40.01, with a gain of 0.76% or 0.3 points. The heightened volatility saw the trading volume jump to 48,15,397 shares. Company has a market cap of $43,094 M.

On the company’s financial health, Bank of New York Mellon Corp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $3737.00 million for the quarter, compared to analysts expectations of $3715.95 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Bank of New York Mellon Corp. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 49 from a previous price target of $47 .Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .Company shares were Reiterated by UBS on Apr 22, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .

The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses Investment Management and Investment Services it serves institutions corporations and high net worth individuals. For institutions and corporations it provides investment management trust and custody foreign exchange fund administration global collateral services securities lending depositary receipts corporate trust global payment/cash management banking services and clearing services. For individuals it provides mutual funds separate accounts wealth management and private banking services. BNY Mellon’s investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31 2014.

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