Institutional Investors Are Dumping Bank Of New York Co Inc (NYSE:BK)

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

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

Bank Of New York Co Inc (NYSE:BK) institutional sentiment decreased to 0.72 in Q2 2019. Its down -0.07, from 0.79 in 2019Q1. The ratio is negative, as 278 investment professionals opened new or increased equity positions, while 387 sold and reduced stakes in Bank Of New York Co Inc. The investment professionals in our partner’s database reported: 761.00 million shares, down from 789.00 million shares in 2019Q1. Also, the number of investment professionals holding Bank Of New York Co Inc in their top 10 equity positions decreased from 17 to 9 for a decrease of 8. Sold All: 71 Reduced: 316 Increased: 201 New Position: 77.

The Bank of New York Mellon Corporation provides financial services and products to institutions, firms, and high net worth individuals in the United States and internationally. The company has market cap of $44.21 billion. It operates through two divisions, Investment Management and Investment Services. It has a 12.19 P/E ratio. The firm offers 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.

The stock increased 1.27% or $0.59 during the last trading session, reaching $46.9. About 2.98M shares traded. The Bank of New York Mellon Corporation (NYSE:BK) has declined 12.23% since September 13, 2018 and is downtrending. It has underperformed by 12.23% the S&P500.

Analysts await The Bank of New York Mellon Corporation (NYSE:BK) to report earnings on October, 16 before the open. They expect $0.99 EPS, down 6.60 % or $0.07 from last year’s $1.06 per share. BK’s profit will be $933.24M for 11.84 P/E if the $0.99 EPS becomes a reality. After $1.01 actual EPS reported by The Bank of New York Mellon Corporation for the previous quarter, Wall Street now forecasts -1.98 % negative EPS growth.

Trian Fund Management L.P. holds 5.88% of its portfolio in The Bank of New York Mellon Corporation for 12.62 million shares. Longview Partners (Guernsey) Ltd owns 26.41 million shares or 5.65% of their US portfolio. Moreover, Asset Management Advisors Llc has 4.24% invested in the company for 111,390 shares. The Ohio-based First Fiduciary Investment Counsel Inc. has invested 3.69% in the stock. Davis Selected Advisers, a Arizona-based fund reported 16.72 million shares.

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

Ratings analysis reveals 0 of Bank of New York Mellon’s analysts are positive. Out of 5 Wall Street analysts rating Bank of New York Mellon, 0 give it “Buy”, 1 “Sell” rating, while 4 recommend “Hold”. The lowest target is $4400 while the high is $58. The stock’s average target of $47.67 is 1.64% above today’s ($46.9) share price. BK was included in 15 notes of analysts from March 15, 2019. UBS maintained it with “Neutral” rating and $4500 target in Wednesday, June 26 report. Deutsche Bank downgraded The Bank of New York Mellon Corporation (NYSE:BK) on Tuesday, June 18 to “Hold” rating. The firm earned “Market Perform” rating on Thursday, July 18 by Wood. Deutsche Bank maintained the stock with “Buy” rating in Friday, March 15 report. Morgan Stanley maintained The Bank of New York Mellon Corporation (NYSE:BK) on Wednesday, June 5 with “Overweight” rating. As per Thursday, July 18, the company rating was maintained by Buckingham Research. Deutsche Bank maintained it with “Hold” rating and $4500 target in Wednesday, August 21 report. The firm earned “Neutral” rating on Thursday, April 18 by Buckingham Research. The firm has “Underweight” rating by JP Morgan given on Tuesday, July 9.

More notable recent The Bank of New York Mellon Corporation (NYSE:BK) news were published by: Bizjournals.com which released: “Park Hotels poised to close Chesapeake acquisition this month – Washington Business Journal” on September 04, 2019, also Finance.Yahoo.com with their article: “Why The Bank of New York Mellon Corporation (NYSE:BK) Is A Dividend Rockstar – Yahoo Finance” published on May 16, 2019, Fool.com published: “3 Dividend Plays to Buy And Hold For 5 Years – Motley Fool” on August 30, 2019. More interesting news about The Bank of New York Mellon Corporation (NYSE:BK) were released by: Streetinsider.com and their article: “Buffett’s Berkshire Hathaway Raises Stakes in Amazon (AMZN), Bank of America (BAC) – 13F – StreetInsider.com” published on August 14, 2019 as well as Fool.com‘s news article titled: “These 4 Stocks Have Cost Warren Buffett More Than $6 Billion in 2019 – Motley Fool” with publication date: September 03, 2019.

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

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