Bank of New York Mellon Corp (BK) : Flippin Bruce Porter Inc reduced its stake in Bank of New York Mellon Corp by 1.08% during the most recent quarter end. The investment management company now holds a total of 92,544 shares of Bank of New York Mellon Corp which is valued at $3,705,462 after selling 1,007 shares in Bank of New York Mellon Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Bank of New York Mellon Corp makes up approximately 1.04% of Flippin Bruce Porter Inc’s portfolio.
Other Hedge Funds, Including , Moors Cabot boosted its stake in BK in the latest quarter, The investment management firm added 2,251 additional shares and now holds a total of 43,934 shares of Bank of New York Mellon Corp which is valued at $1,759,117. Bank of New York Mellon Corp makes up approx 0.30% of Moors Cabot’s portfolio.Westchester Capital Management boosted its stake in BK in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 205,393 shares of Bank of New York Mellon Corp which is valued at $8,318,417. Bank of New York Mellon Corp makes up approx 3.54% of Westchester Capital Management’s portfolio.Wedbush Securities Inc reduced its stake in BK by selling 2,758 shares or 18.55% in the most recent quarter. The Hedge Fund company now holds 12,111 shares of BK which is valued at $474,993. Bank of New York Mellon Corp makes up approx 0.08% of Wedbush Securities Inc’s portfolio.Ibm Retirement Fund reduced its stake in BK by selling 8,158 shares or 5.59% in the most recent quarter. The Hedge Fund company now holds 137,890 shares of BK which is valued at $5,403,909. Bank of New York Mellon Corp makes up approx 0.19% of Ibm Retirement Fund’s portfolio.
Bank of New York Mellon Corp opened for trading at $39.98 and hit $40.27 on the upside on Monday, eventually ending the session at $40.16, with a gain of 1.08% or 0.43 points. The heightened volatility saw the trading volume jump to 22,39,825 shares. Company has a market cap of $42,878 M.
On the company’s financial health, Bank of New York Mellon Corp reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.75. The company had revenue of $3776.00 million for the quarter, compared to analysts expectations of $3795.74 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.73 EPS.
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 Mellons 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.