Bank New York Mellon Corp (BK) Holder Kingstown Capital Management LP Cut Its Holding as …



June 14, 2018 – By Marie Mckinney

The Bank of New York Mellon Corporation (NYSE:BK) LogoInvestors sentiment decreased to 0.87 in Q1 2018. Its down 0.12, from 0.99 in 2017Q4. It dropped, as 53 investors sold BK shares while 340 reduced holdings. 81 funds opened positions while 260 raised stakes. 812.17 million shares or 1.50% less from 824.52 million shares in 2017Q4 were reported. Manufacturers Life Insurance The has 1.79 million shares for 0.1% of their portfolio. 35,238 are held by Cadence Mngmt Limited Com. Highvista Strategies Lc reported 0.1% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). Front Barnett Assocs Lc has invested 0.07% in The Bank of New York Mellon Corporation (NYSE:BK). Trust Of Vermont has 0.16% invested in The Bank of New York Mellon Corporation (NYSE:BK). Fiduciary Trust Co accumulated 15,981 shares. Clearbridge Invests Ltd Llc owns 8.23 million shares. Massachusetts-based Srb has invested 0.02% in The Bank of New York Mellon Corporation (NYSE:BK). Eqis Capital, a California-based fund reported 17,880 shares. Moreover, Amalgamated Bancshares has 0.17% invested in The Bank of New York Mellon Corporation (NYSE:BK). 17,530 were accumulated by Salient Tru Company Lta. Arizona State Retirement System holds 350,522 shares or 0.18% of its portfolio. Community Financial Bank Na owns 4,583 shares for 0.04% of their portfolio. Pension Service owns 900,398 shares. Estabrook Cap Mngmt owns 0% invested in The Bank of New York Mellon Corporation (NYSE:BK) for 83,886 shares.

Michael Blitzer decreased its stake in Bank New York Mellon Corp (BK) by 33.33% based on its latest 2018Q1 regulatory filing with the SEC. Kingstown Capital Management Lp sold 500,000 shares as the company’s stock declined 2.03% with the market. The hedge fund run by Michael Blitzer held 1.00 million shares of the major banks company at the end of 2018Q1, valued at $51.53M, down from 1.50M at the end of the previous reported quarter. Kingstown Capital Management Lp who had been investing in Bank New York Mellon Corp for a number of months, seems to be less bullish one the $57.63B market cap company. The stock decreased 0.52% or $0.3 during the last trading session, reaching $57.02. About 659,028 shares traded. The Bank of New York Mellon Corporation (NYSE:BK) has risen 20.30% since June 14, 2017 and is uptrending. It has outperformed by 7.73% the S&P500.

Kingstown Capital Management Lp, which manages about $1.19B and $673.51 million US Long portfolio, upped its stake in Fgl Hldgs by 2.10 million shares to 4.85 million shares, valued at $49.23M in 2018Q1, according to the filing.

Analysts await The Bank of New York Mellon Corporation (NYSE:BK) to report earnings on July, 19. They expect $1.04 earnings per share, up 13.04 % or $0.12 from last year’s $0.92 per share. BK’s profit will be $1.05 billion for 13.71 P/E if the $1.04 EPS becomes a reality. After $1.10 actual earnings per share reported by The Bank of New York Mellon Corporation for the previous quarter, Wall Street now forecasts -5.45 % negative EPS growth.

More news for The Bank of New York Mellon Corporation (NYSE:BK) were recently published by: Schaeffersresearch.com, which released: “Worst Stocks to Own After a Fed Rate Hike” on June 08, 2018. Gurufocus.com‘s article titled: “BNY Mellon Wealth Management Names Chuck Long As A Regional President Of Los Angeles” and published on June 13, 2018 is yet another important article.

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

Among 12 analysts covering BNY Mellon (NYSE:BK), 5 have Buy rating, 2 Sell and 5 Hold. Therefore 42% are positive. BNY Mellon had 22 analyst reports since December 21, 2017 according to SRatingsIntel. The stock has “Hold” rating by Goldman Sachs on Monday, March 12. The firm has “Overweight” rating given on Monday, March 12 by Morgan Stanley. The firm has “Hold” rating by Keefe Bruyette & Woods given on Thursday, December 21. As per Monday, April 9, the company rating was maintained by Sandler O’Neill. Deutsche Bank maintained The Bank of New York Mellon Corporation (NYSE:BK) rating on Friday, April 6. Deutsche Bank has “Buy” rating and $60 target. On Friday, April 20 the stock rating was maintained by Morgan Stanley with “Overweight”. The firm has “Buy” rating by Citigroup given on Wednesday, January 10. The rating was maintained by Keefe Bruyette & Woods on Thursday, April 19 with “Hold”. The stock of The Bank of New York Mellon Corporation (NYSE:BK) has “Hold” rating given on Thursday, April 5 by Jefferies. JP Morgan downgraded the stock to “Underweight” rating in Friday, January 19 report.

The Bank of New York Mellon Corporation (NYSE:BK) Institutional Positions Chart

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