Bluemar Capital Management LLC Stake in Bank New York Mellon Corp (BK) Trimmed as Share Value Declined

July 18, 2017 - By Hazel Jackson

Investors sentiment increased to 0.97 in 2016 Q4. Its up 0.07, from 0.9 in 2016Q3. It increased, as 45 investors sold BK shares while 317 reduced holdings. 122 funds opened positions while 230 raised stakes. 846.88 million shares or 1.27% more from 836.26 million shares in 2016Q3 were reported. Price T Rowe Associates Md holds 58.21 million shares. Smith Asset Mngmt Grp Ltd Partnership holds 509,659 shares. Financial Bank Of Nova Scotia owns 0.01% invested in Bank of New York Mellon Corp (NYSE:BK) for 23,805 shares. Mitsubishi Ufj reported 0.42% in Bank of New York Mellon Corp (NYSE:BK). Amalgamated State Bank has invested 0.15% of its portfolio in Bank of New York Mellon Corp (NYSE:BK). Vulcan Value Ptnrs Ltd Co reported 5.91M shares. Douglass Winthrop Advsrs Ltd Liability invested in 0.07% or 20,412 shares. Verition Fund Mgmt Lc reported 22,616 shares or 0.09% of all its holdings. National Pension Service has 0.26% invested in Bank of New York Mellon Corp (NYSE:BK). 1.96 million were accumulated by Asset One Ltd. 368,889 are held by Hancock. Ironwood Investment Mgmt Limited Co reported 4,577 shares. 62,804 were accumulated by Tiverton Asset Mgmt Ltd Llc. The New York-based Jennison Assocs has invested 0% in Bank of New York Mellon Corp (NYSE:BK). Cls Invs Limited Liability Corporation holds 0.06% in Bank of New York Mellon Corp (NYSE:BK) or 30,303 shares.

David Rodriguez decreased its stake in Bank New York Mellon Corp (BK) by 45.92% based on its latest 2016Q4 regulatory filing with the SEC. Bluemar Capital Management Llc sold 92,300 shares as the company’s stock declined 1.27% while stock markets rallied. The hedge fund run by David Rodriguez held 108,700 shares of the major banks company at the end of 2016Q4, valued at $5.15 million, down from 201,000 at the end of the previous reported quarter. Bluemar Capital Management Llc who had been investing in Bank New York Mellon Corp for a number of months, seems to be less bullish one the $56.53 billion market cap company. The stock increased 1.89% or $0.99 on July 17, reaching $53.35. About shares traded. Bank of New York Mellon Corp (NYSE:BK) has risen 13.98% since July 18, 2016 and is uptrending. It has underperformed by 2.72% the S&P500.

Bluemar Capital Management Llc, which manages about $314.00 million and $187.34 million US Long portfolio, upped its stake in Wells Fargo & Co New (NYSE:WFC) by 72,400 shares to 98,400 shares, valued at $5.42M in 2016Q4, according to the filing.

Analysts expect Bank of New York Mellon Corp (NYSE:BK) to report $0.84 EPS on July, 20.They anticipate $0.08 EPS change or 10.53 % from last quarter’s $0.76 EPS. BK’s profit would be $890.07 million giving it 15.88 P/E if the $0.84 EPS is correct. After having $0.80 EPS previously, Bank of New York Mellon Corp’s analysts see 5.00 % EPS growth.

More notable recent Bank of New York Mellon Corp (NYSE:BK) news were published by: Reuters.com which released: “BRIEF-Charles W. Scharf appointed CEO of BNY Mellon to become chairman” on July 17, 2017, also Forbes.com with their article: “Bridget Engle Named New CIO Of BNY Mellon” published on June 20, 2017, Foxbusiness.com published: “BNY Mellon Taps Ex-Chief of Visa To Head Bank — WSJ” on July 18, 2017. More interesting news about Bank of New York Mellon Corp (NYSE:BK) were released by: Forbes.com and their article: “BNY Mellon Gets Fed Approval To Return Over $4 Billion To Shareholders” published on June 29, 2017 as well as Post-Gazette.com‘s news article titled: “JP Morgan Chase CEO pulls bigger paycheck, but PNC, BNY Mellon chiefs make top …” with publication date: July 12, 2017.

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

Among 19 analysts covering The Bank Of New York Mellon Corporation (NYSE:BK), 8 have Buy rating, 1 Sell and 10 Hold. Therefore 42% are positive. The Bank Of New York Mellon Corporation has $56 highest and $5 lowest target. $46.53’s average target is -12.78% below currents $53.35 stock price. The Bank Of New York Mellon Corporation had 49 analyst reports since July 22, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Wednesday, April 12 by Jefferies. The rating was maintained by Deutsche Bank on Friday, January 8 with “Buy”. The stock of Bank of New York Mellon Corp (NYSE:BK) has “Buy” rating given on Thursday, June 16 by Deutsche Bank. The stock of Bank of New York Mellon Corp (NYSE:BK) has “Buy” rating given on Tuesday, July 21 by Argus Research. The firm has “Outperform” rating by CLSA given on Friday, September 23. The stock has “Buy” rating by Deutsche Bank on Thursday, March 17. The stock has “Hold” rating by Jefferies on Wednesday, October 7. Deutsche Bank maintained the shares of BK in report on Friday, September 9 with “Buy” rating. The company was maintained on Monday, July 10 by Jefferies. Rafferty maintained Bank of New York Mellon Corp (NYSE:BK) rating on Wednesday, April 26. Rafferty has “Buy” rating and $53 target.

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